Shaoxing Sunflower Investments Co., Ltd. signed an agreement to acquire Shaoxing Sunflower Optoelectronic New Energy Research Zhejiang Sunflower Juhui New Energy Technology from Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company (SZSE:300111) for approximately CNY 240 million on December 3, 2019. Transactional price for Shaoxing Sunflower Optoelectronic New Energy Research is CNY 1 and for Zhejiang Sunflower Juhui New Energy Technology Co., Ltd. is CNY 239 million. Within 10 working days from the date of signing the equity transfer agreement, Shaoxing Sunflower Investments will pay CNY 10 million as a deposit, within 10 working days from the date of the equity transfer agreement becoming effective, Shaoxing Sunflower Investments will pay CNY 120 million and the remaining part of the transaction price shall be paid within 30 working days from the date of registration of the change in the underlying asset to the name of the counterparty to the transaction. The transaction is subject to approval by Zhejiang Sunflower Light Energy Science & Technology’s shareholders meeting. The transaction was approved by the shareholders' meeting of Shaoxing Sunflower Investments Co., Ltd. on December 3, 2019. On December 3, 2019, Zhejiang Sunflower Light Energy Science & Technology convened the 22nd meeting of the Fourth Board of Directors and approved the transaction. On December 3, 2019, the 17th meeting of the fourth board of supervisors of Zhejiang Sunflower Light Energy Science & Technology reviewed and approved the transaction. Wu Chenggen, Luo Yunxiang, Zhao Hua, Huang Jie, Yang Yi, and Shen Yining of Zheshang Securities Co., Ltd. acted as financial advisors, Yan Huarong, Yan Huarong, Shi Xueyuan and Dai Qiyun of Grandall Lawyer (Hangzhou) Office acted as legal advisors and Yang Zhiguo, Zhu Jiandi, Zhang Jianxin and Zheng Fang of BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountants for Shaoxing Sunflower Investments. Shaoxing Sunflower Investments Co., Ltd. completed the acquisition of Shaoxing Sunflower Optoelectronic New Energy Research Zhejiang Sunflower Juhui New Energy Technology from Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company (SZSE:300111) on December 31, 2019. After the completion of the industrial and commercial change registration, Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company no longer holds the equity of the target companies. Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company held the twenty-fourth meeting of the fourth directorate to consider and approve the transaction on December 16, 2019. The transaction has been approved by the shareholders of Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company on December 30, 2019. As of December 31, 2019, Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company received the first transaction price of CNY 120 million paid by Shaoxing Sunflower Investments Co., Ltd., and completed the registration of industrial and commercial changes to Shaoxing Sunflower Optoelectronic New Energy Research Zhejiang Sunflower Juhui New Energy Technology.