Wang Fuxiang signed the share transfer agreement to acquire additional 5.0003% stake in Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) from Sin Yang Industries & Trading Pte Ltd for approximately CNY 410 million on June 15, 2022. Wang Fuxiang will pay CNY 26.05 per share for 15.67 million shares, representing 5.0003% stake in Shanghai Sinyang Semiconductor.Prior to this transaction, Shanghai Sinyang Semiconductor is held 17.77% by Sin Yang Industries and 0.92% by Wang Fuxiang and upon Completion, Sin Yang Industries and Wang Fuxiang will own 12.77% and 5.92%, respectively. The transaction needs to be reviewed and confirmed by the Shenzhen Stock Exchange. This change in equity will not have an impact on the normal production and operation of the company, or affect the governance structure, and there is no situation that damages the interests of the company and minority shareholders.

Wang Fuxiang completed the acquisition of additional 5% stake in Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) from SIN YANG INDUSTRIES & TRADING PTE LTD on September 13, 2022.