Wang Quanquan entered into an agreement to acquire 6% stake in Shanghai Original Advanced Compounds Co., Ltd from Shanghai Zhizheng Enterprise Group Co., Ltd. for approximately CNY 120 million.

Wang Quanquan entered into an agreement to acquire 6% stake in Shanghai Original Advanced Compounds Co., Ltd (SHSE:603991) from Shanghai Zhizheng Enterprise Group Co., Ltd. for approximately CNY 120 million on July 13, 2020. Wang Quanquan acquired 4.47 million shares for CNY 27.8 per share. In a related transaction, Shanghai Zhizheng Enterprise Group sold 7% stake in Shanghai Original Advanced Compounds to Huang Qiang for CNY 145.05 million.