Shanghai Tianyang Hot Melt Adhesives Co., Ltd. (SHSE:603330) signed the investment framework agreement to acquire 65% stake in Yantai Tightsen Fine Chemicals Technology Co., Ltd from Lin Zhixiu, Lin Shaosheng, Yu Jianzhang, Beijing Heli Technology Co., Ltd., Lin Ying and Sun Ke for CNY 56.9 million on June 15, 2020. Shanghai Tianyang Hot Melt Adhesives Co., Ltd. signed share transfer agreement to acquire 65% stake in Yantai Tightsen Fine Chemicals Technology Co., Ltd from Lin Zhixiu, Lin Shaosheng, Yu Jianzhang, Beijing Heli Technology Co., Ltd., Lin Ying and Sun Ke on July 21, 2020. Under the terms, Shanghai Tianyang Hot Melt Adhesives will acquire 7.8 million shares. Shanghai Tianyang Hot Melt Adhesives will acquire 22% from Lin Zhixiu, 17% from Lin Shaosheng, 10% from Yu Jianzhang, 10% from Beijing Heli Technology Co., Ltd., 5% from Lin Ying and 1% from Sun Ke. Shanghai Tianyang Hot Melt Adhesives will use its own funds or self-raised funds in funding of transaction. In 2019, Yantai Tightsen generated revenue of CNY 29.8 million and net profit CNY 7.6 million. As of December 31, 2019, Yantai Tightsen had total assets of CNY 24.8 million and net assets of CNY 18.1 million. As of June 15, Board of Directors of Shanghai Tianyang Hot Melt Adhesives approved the transaction.