Huaibei Public Utilities Assets Operation Co., Ltd signed a Share Transfer Agreement to acquire 6% of Yinbang Clad Material Co.,Ltd (SZSE:300337) from Shen Yulan for approximately RMB 590 million on August 12, 2022. The offer price per share is RMB 11.8854. Total number of shares to be transferred is 49,315,200. Post transaction Shen Yulan will hold 52,902,400 representing 6.44% stake.

Huaibei Public Utilities Assets Operation Co., Ltd completed the acquisition of a 6% stake in Yinbang Clad Material Co.,Ltd (SZSE:300337) from Shen Yulan on September 5, 2022.