Zhuhai Port Co.,Ltd. (SZSE:000507) entered into an agreement to acquire 25% stake in Jiangsu Xiuqiang Glasswork Co., Ltd. (SZSE:300160) from Toptai (HK) Technology Co., Ltd. and Suqian Xinxing Investment Co., Ltd. for approximately CNY 970 million on January 12, 2021. Zhuhai Port Co.,Ltd. will acquire 92.68 million shares from Suqian Xinxing Investment Co., Ltd. and 62 million shares from Toptai (HK) Technology Co., Ltd. at CNY 6.3 per share. Within 5 working days after obtaining the confirmation documents issued by the Shenzhen Stock Exchange agreeing to the transaction, Zhuhai Port Co., Ltd will receive CNY 467.1 million from Suqian Xinxing Investment Co., Ltd. amounting to 80% of the transfer price for 92.7 million shares and will receive CNY 312.5 million from Toptai (HK) Technology Co., Ltd. amounting to 80% of transfer price for 62 million shares.

Within 5 working days, after Zhuhai Port Co., Ltd completes the payment of 80% of the share transfer price, Suqian Xinxing Investment Co., Ltd., Toptai (HK) Technology Co., Ltd. and related parties shall cooperate to complete the stock delivery procedures for the underlying shares in China Securities Depository and Clearing Corporation Limited. Within 5 working days after completing the share delivery procedures of the underlying shares, Zhuhai Port Co., Ltd will pay the remaining price of CNY 116.78 million to Suqian Xinxing Investment Co., Ltd. for 92.7 million shares and remaining price of CNY 78.1 million to Toptai (HK) Technology Co., Ltd. for 62 million shares. Prior to the transaction, Suqian Xinxing Investment Co., Ltd. held 144.43 million shares and Toptai (HK) Technology Co., Ltd. held 126.92 million shares.

After the transaction, Zhuhai Port Co.,Ltd. will hold 154.68 million shares accounting for 25% stake in Jiangsu Xiuqiang Glasswork Co., Ltd. The transaction is subject to approval of shareholders and Board of Directors of Zhuhai Port Co.,Ltd. and approval from relevant competent authorities for the record or approval.