Zhang Jia Gang Freetrade Science&Technology Group Co.,Ltd. (SHSE:600794) Share Purchase Letter of Intent to acquire 28.01% stake in Yangshan Shengang International Petroleum Storage and Transportation Co., Ltd. from Dongguan Yuanheng Enterprise Management Co., Ltd. for approximately CNY 500 million on September 5, 2023. Zhang Jia Gang Freetrade Science&Technology Group Co.,Ltd. (SHSE:600794) Equity Transfer Agreement to acquire 28.01% stake in Yangshan Shengang International Petroleum Storage and Transportation Co., Ltd. from Dongguan Yuanheng Enterprise Management Co., Ltd. for approximately CNY 430 million on November 7, 2023. Yangshan Shengang International Petroleum Storage and Transportation reported total assets of CNY 887.68 million and net assets of CNY 782.16 million on June 30, 2023.

This has been approved board of Zhang Jia Gang Freetrade Science, and after the parties have reached the formal agreement phase, it will be submitted to the Directorate and Shareholders for approval. On November 7, 2023, the board of Zhang Jia Gang Freetrade Science unanimously approved the transaction. As of November 23, 2023, the shareholders of Zhangjiagang Free Trade Science approved the transaction.