Jinan Tiekun Investment Partnership (Limited Partnership) signed a Share Transfer Agreement to acquire 14.7% stake in Shanghai Xintonglian Packaging Co., Ltd. (SHSE:603022) from Shanghai Wenjie Investment Consulting Partnership (Limited Partnership) and Cao Wenjie for approximately CNY 540 million on September 18, 2020. Under the terms, Jinan Tiekun will acquire 36.9 million shares at CNY 14.77 per share. Post completion, Cao Wenjie will own 44.09% stake in Shanghai Xintonglian, reduced from 58.79% stake and Shanghai Wenjie will exit its stake completely. Payment of the first share transfer price: within 20 working days after obtaining the compliance confirmation letter from the Shanghai Stock Exchange for the target share transfer, payment of the second share transfer price: within two working days before the transfer of the target shares and payment of the third share transfer price: within five working days of the transfer of the target share. Jinan Tiekun Investment Partnership (Limited Partnership) cancelled the acquisition of 14.7% stake in Shanghai Xintonglian Packaging Co., Ltd. (SHSE:603022) from Shanghai Wenjie Investment Consulting Partnership (Limited Partnership) and Cao Wenjie on June 21, 2021. The transaction was terminated due to changing market conditions, resulting in the failure of both parties to go to China Securities Depository and Clearing Co., Ltd.