Xu Haifei entered into an agreement to acquire 2.7% stake in Beijing Hezong Science & Technology Co., Ltd. (SZSE:300477) from Liu Zegang and Wei Qiang for approximately CNY 190 million on July 16, 2021. The shares will be acquired for CNY 6.6 each. The buyer shall pay the transfer price of CNY 5 million to sellers within 3 working days from the effective date of this agreement. Liu Zegang will transfer to Xu Haifei 18,719,560 unrestricted shares of Beijing Hezong Science & Technology, accounting for 1.73% stake while Wei Qiang will transfer his holding of 10,135,702 unrestricted shares of Beijing Hezong Science & Technology to Xu Haifei, accounting for 0.94% stake. As a result of transaction, Liu Zegang’s shareholding in Beijing Hezong Science & Technology will reduce from 13.47% to 11.74% stake while Wei Qiang’s shareholding in Beijing Hezong Science & Technology will reduce from 6.82% to 5.89%. Xu Haifei’s stake in Beijing Hezong Science & Technology increased from 0.05% to 2.71% stake. Xu Haifei completed the acquisition of 2.7% stake in Beijing Hezong Science & Technology Co., Ltd. (SZSE:300477) from Liu Zegang and Wei Qiang on July 30, 2021.