Gongqingcheng Xingcheng Dongying Semiconductor Industry Investment Partnership Enterprise, Tongling State Owned Capital Operation Holding Group Co.,Ltd., Tongling Dajiang Investment Holdings Co., Ltd., Tongling Construction Investment and Holding Co., Ltd., Shanghai Free Trade Zone Equity Fund Management Co., Ltd., Yangtze Optical Fibre And Cable Joint Stock Limited Company (SEHK:6869), Xiamen Jianfa Emerging Industry Equity Investment No. 2 Partnership Enterprise (Limited Partnership), Shenzhen Penglinyang Investment Partnershomip Enterprise (Limited Partnership), Jiashan Jiahe Equity Investment Partnership Enterprise, Jiaxing Linzhi Equity Investment Partnership Enterprise (Limited Partnership), Jiaxing Yunchu No. 2 Investment Management Partnership Enterprise (Limited Partnership), Jiaxing Anyue Investment Partnership Enterprise (Limited Partnership) and Fujian Xuguang Investment Partnership Enterprise (Limited Partnership) agreed to acquire a 60% stake in Hangzhou Semiconductor Wafer Co., Ltd. from Ferrotec Holdings Corporation (JASDAQ:6890) for approximately CNY 2 billion on September 15, 2020. As part of the transaction, group of buyers will acquire 1740 million shares in Hangzhou Semiconductor Wafer Co., Ltd. from Ferrotec Holdings Corporation.

In the year ended December 31, 2019, Hangzhou Semiconductor Wafer Co., Ltd. reported net worth of CNY 1900 million, total assets of CNY 3438 million and sales of CNY 0.8 million. Post completion, Ferrotec Holdings Corporation will hold 1160 million shares representing 40% stake in Hangzhou Semiconductor Wafer Co., Ltd. Board of directors of Ferrotec Holdings Corporation resolved the transaction. The transfer funds will be used to repay interest-bearing debt related to investment in the semiconductor wafer business.

Gongqingcheng Xingcheng Dongying Semiconductor Industry Investment Partnership Enterprise, Tongling State Owned Capital Operation Holding Group Co.,Ltd., Tongling Dajiang Investment Holdings Co., Ltd., Tongling Construction Investment and Holding Co., Ltd., Shanghai Free Trade Zone Equity Fund Management Co., Ltd., Yangtze Optical Fibre And Cable Joint Stock Limited Company (SEHK:6869), Xiamen Jianfa Emerging Industry Equity Investment No. 2 Partnership Enterprise (Limited Partnership), Shenzhen Penglinyang Investment Partnershomip Enterprise (Limited Partnership), Jiashan Jiahe Equity Investment Partnership Enterprise, Jiaxing Linzhi Equity Investment Partnership Enterprise (Limited Partnership), Jiaxing Yunchu No. 2 Investment Management Partnership Enterprise (Limited Partnership), Jiaxing Anyue Investment Partnership Enterprise (Limited Partnership) and Fujian Xuguang Investment Partnership Enterprise (Limited Partnership) completed the acquisition of 60% stake in Hangzhou Semiconductor Wafer Co., Ltd. from Ferrotec Holdings Corporation (JASDAQ:6890) on October 19, 2020. As of October 19, 2020, buyers made the payment of consideration. As on November 4, 2020, buyers made all payments for the transfer price of CNY1.97 billion have been completed.