Huzhou Nanxun Zhongxing Industrial Development Co., Ltd. entered into a share transfer agreement to acquire 5.98% stake in Thinker Agricultural Machinery Co., Ltd. (SHSE:603789) from Qian Juhua for CNY 280 million on August 17, 2020. Huzhou Nanxun will acquire 15.5 million shares of Thinker Agricultural. Under the terms of the transaction, Huzhou Nanxun will pay a deposit amounting to CNY 40 million to Qian Juhua, and within 5 working days days from the date of obtaining the compliance confirmation document of the Shanghai Stock Exchange, shall pay CNY 120 million. Upon completion of the transaction, Qian Juhua will hold 6.3% stake in Thinker Agricultural Machinery and Huzhou Xinjiayuan Investment Management Co., Ltd. will hold 17.98% stake. Huzhou Nanxun Zhongxing Industrial Development Co., Ltd. completed the acquisition of 5.98% stake in Thinker Agricultural Machinery Co., Ltd. (SHSE:603789) from Qian Juhua on October 13, 2020. On October 13, 2020, Qian Juhua received the "Confirmation of Transfer Registration" issued by China Securities Depository and Clearing Co., Ltd., and the transfer registration procedures for this agreement to Huzhou Nanxun Zhongxing Industrial Development Co., Ltd. have been completed.