Wuxi High-tech Zone New Kinetic Energy Industry Development Fund (Limited Partnership) signed a share transfer agreement to acquire 5.2% stake in Shannon Semiconductor Technology Co.,Ltd. (SZSE:300475) from Shenzhen Linghui Jishi Equity Investment Fund Partnership Enterprise (Limited Partnership) managed by Shenzhen Lingxin Jishi Equity Investment Fund Management Partnership Enterprise (L.P.) for approximately CNY 590 million on January 12, 2024. Wuxi High-tech will pay CNY 24.65 per share as consideration. The 20% transfer price of CNY 117.3 million shall be paid within fifteen days of agreement signing and the remaining balance shall be paid within one month after the date of transfer shares registration.