Yunnan International Trust Co., Ltd. signed a share transfer agreement to acquire 6.1% stake in EmbedWay Technologies (Shanghai) Corporation (SHSE:603496) from Shen Zhenyu, Hu Deyong and Wang Xiang for approximately CNY 150 million on March 16, 2022. As per the terms, 14 million shares will be transferred at CNY 10.38 per share. First transfer price of CNY 115 million of the underlying shares will be paid to the account designated by Party A within 5 working days after the establishment of the trust plan and the completion of the transfer of the underlying shares and remaining transfer price shall be paid within the duration of the trust plan.

Before this transfer, Shen Zhenyu, Hu Deyong and Wang Xiang, held a total of 75,741,400 shares of the company, accounting for 33.23% of the company's total share capital and post transfer they will hold 61,741,400 shares of the company, accounting for 27.08%. The transaction is subject to approval of Shanghai Stock Exchange.