Wuhu Conch Profiles and Science Co.,Ltd (SZSE:000619) agreed to acquire remaining 49% stake in Guangxi Conch Construction Engineering Building Materials Co., Ltd. from Guangxi Construction Engineering Group for CNY 14 million on May 7, 2021. Within five working days after the signing of this agreement, the industrial and commercial change registration procedures of the target equity shall be completed and Within six months after the completion of the industrial and commercial change registration of the target equity, the entire equity transfer price shall be paid in one lump sum. Post completion, Guangxi Conch will become wholly-owned subsidiary of Wuhu Conch. As of March 31, 2021, Guangxi Conch has reported total assets of CNY 28.15 million and net assets of CNY 28.1 million. The third meeting of the Ninth Board of Directors was held and approved the transaction on May 7, 2021.