An unknown buyer signed a share transfer agreement to acquire 8.09% stake in Yinbang Clad Material Co., Ltd. (SZSE:300337) from Shen Yulan for approximately CNY 500 million on July 20, 2018. Under the terms of the agreement, CNY 7.52 per share will be paid. Upon completion, Shen Yulan’s stake will decrease from 34.44% to 26.35%.