Shandong Marine Group Ltd. signed share transfer agreement to acquire 30% stake in Thinker Agricultural Machinery Co., Ltd. (SHSE:603789) from Huzhou Xinjiayuan Investment Management Co., Ltd. and Qian Juhua for CNY 1.3 billion on April 10, 2020. Shandong Marine Group Ltd. will acquire 17.7% stake from Huzhou Xinjiayuan Investment Management Co., Ltd. and 12.3% stake from Huzhou Xinjiayuan Investment Management Co., Ltd. Currently, Huzhou Xinjiayuan Investment Management Co., Ltd. and Zhang Shenqiang hold 33% and 12.3% respectively in Thinker Agricultural Machinery Co., Ltd. After transaction, Huzhou Xinjiayuan Investment Management Co., Ltd. will hold 15.3% stake, Zhang Shenqiang will not hold any stake and Shandong Marine Group Ltd. will hold 30% stake in Thinker Agricultural Machinery Co., Ltd. The parties to the transaction agree that within five working days from the date of obtaining the approval of the competent state-owned asset management authority and the completion of the first phase payment of the transfer price in the agreement, parties shall cooperate with the application documents and within five working days after the Shanghai Stock Exchange issues a confirmation letter for the transaction and the transfer share management account receives all the funds, parties will cooperate to complete the transfer registration process of shares in the securities registration and settlement institution. Shandong Marine Group Ltd. cancelled the acquisition of 30% stake in Thinker Agricultural Machinery Co., Ltd. (SHSE:603789) from Huzhou Xinjiayuan Investment Management Co., Ltd. and Qian Juhua on June 11, 2020. The transaction was terminated as the progress of the transaction did not meet the expectations stipulated in the agreement and the two parties could not reach consensus on the extension.