Tonze New Energy Technology Co.,Ltd. (SZSE:002759) signed a Share Transfer Agreement to acquire Changshu Yuxiang Trading Co., Ltd. from group of individual shareholders for approximately CNY 460 million on August 3, 2023. Under the terms, each of Zhi Jianqing, Wang Zhengyuan, Xu Wei, Wei Jiandong, Zhou Shuai, Zheng Jian, Yan Yuhong, and Zhao Dongxue will sell their 12.5% stake in Changshu Yuxiang Trading. Tonze New Energy will pay CNY 92 million within 5 working days of the agreement, CNY 138 million within 5 working days of completion and CNY 92 million, CNY 92 million, and CNY 46 million within 5 days from the issuance of the 2023, 2024, and 2025 audit reports, respectively.

As of June 30, 2023, Changshu Yuxiang Trading reported total assets of CNY 303.211 million and net assets of CNY 93.9747 million. The transaction has been approved in the 25th Meeting of the Tonze New Energy's 4th Directorate held on August 3, 2023, and is subject to the Shareholders? Approval.