Hundsun Technologies Inc. (SHSE:600570) entered into an agreement to acquire an additional 7.18% stake in Shenzhen Ysstech Info-Tech Co.,Ltd (SZSE:300377) from Tang Qiu, Yan Jianhong, Yan Jianbing and Huang Yi for approximately CNY 390 million on February 18, 2021. Hundsun Technologies Inc. will acquire 40 million shares at CNY 7.18 per share. Hundsun Technologies Inc. pays the first deposit time: CNY 10 million should be paid to the bank account designated by the transferor (subsequently automatically converted to the share transfer price) on the day after the signing of this agreement.

When Hundsun Technologies Inc. pays the second amount: Hundsun Technologies Inc. should obtain the confirmation of payment by the Shenzhen Stock Exchange to the transferor within 2 working days after the application for the transfer of the share agreement referred to in the agreement, which is CNY 66.5 million, used for the personal income tax payable for the transfer of the target shares. The time for the transferee to pay the third amount is: After the transferee and the transferor have fully cooperated to complete the relevant preparations for the transfer of the target shares, within 2 working days of the transfer of the target shares, the transferee will designate the bank Account remittance is CNY 175.52 million. If the payment is overdue, a penalty interest shall be paid to the transferor at a daily rate of 1/10,000 for the unpaid amount.

The transferee pays the fourth amount of time: the transferee of the remaining transfer price remits to the bank account designated by the transferor within 5 working days after the actual transfer of the underlying shares. If the payment is overdue, a penalty interest shall be paid to the transferor at a daily rate of 1/10,000 for the unpaid amount. Prior to this transaction, Hundsun Technologies Inc. held 0.001% stake in Shenzhen Ysstech Info-Tech Co.,Ltd and post completion will hold 7.18% stake.

The source of funds for the transaction is the own funds of the buyer.