Taixing Sail New Energy Technology Co., Ltd. signed a share transfer agreement to acquire 6.4% stake in Suzhou Jinfu Technology Co., Ltd. (SZSE:300128) from Shanghai Ruiwei Investment Management Co., Ltd. for approximately CNY 320 million on September 30, 2020. As per terms, Taixing Sail New Energy Technology Co., Ltd will acquire 70 million shares at CNY 4.5 per share. Upon completion, Taixing Sail New Energy Technology Co., Ltd will hold 6.4% stake and Shanghai Ruiwei Investment Management Co., Ltd. will hold 1.28% stake in Suzhou Jinfu Technology Co., Ltd. The transaction is subject to receive compliance confirmation by the Shenzhen Stock Exchange before the transfer of shares by agreement can be handled at the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited.