Shenzhen Xinlianpu Investment Partnership Enterprise (Limited Partnership) signed a share transfer agreement to acquire 5% stake in Shannon Semiconductor Technology Co.,Ltd. (SZSE:300475) from Shenzhen Lingchi Co-Stone Equity Investment Fund Partnership Enterprise (Limited Partnership) managed by Shenzhen Lingxin Jishi Equity Investment Fund Management Partnership Enterprise (L.P.) for approximately CNY 570 million on January 16, 2024. Shenzhen Xinlianpu will pay CNY 24.8 per share as consideration. The first transfer price of CNY 10 million shall be paid within fifteen days of agreement signing and the remaining balance shall be paid within ninety days after the date of transfer shares registration.