Shanghai Sunglow Packaging Technology Co.,Ltd (SHSE:603499) intends to acquire Shanghai Refond Optoelectronics Co., Ltd. from Sun Xiangdong for approximately CNY 110 million on February 9, 2021. The consideration will be paid in cash. Shanghai Sunglow Packaging Technology Co.,Ltd intends to sign the relevant "Equity Transfer Agreement". Shanghai Refond Optoelectronics Co., Ltd. reported total assets of CNY 61.9 million and owner's equity of CNY 60.4 million as of January 31, 2021. The transaction was reviewed and approved at the 36th meeting of the second board of directors and the 25th meeting of the second board of supervisors. It still needs to be submitted to the Shanghai Sunglow Packaging Technology Co.,Ltd first extraordinary general meeting of shareholders in 2021 for deliberation.