China National Machinery Industry Corporation signed a share transfer agreement to acquire 10.9% stake in Sumec Corporation Limited from China SINOMACH Heavy Industry Corporation and SINOMACH Changlin Company Limited for approximately CNY 740 million on November 24, 2020. As per agreement, China National Machinery Industry Corporation shall acquire approximately 122 million shares equivalent to 9.34% from China SINOMACH Heavy Industry Corporation and 20 million shares from SINOMACH Changlin Company Limited equivalent to 1.53% stake in Sumec Corporation Limited for CNY 634 million and CNY 103 million respectively.