Chen Zhu signed an agreement to acquire 5.3% stake in Zhejiang Tiantie Industry Co., Ltd. (SZSE:300587) from Wang Meiyu and Xu Jiding for approximately CNY 200 million on March 7, 2021. Chen Zhu will acquire 11.43 million and 6.51 million shares at CNY 11.17 per share for CNY 127.64 million and CNY 72.75 million from Wang Meiyu and Xu Jiding respectively. Chen Zhu shall pay 50% consideration upon completion and remaining 50% within one year of completion.