Fujian Hexin Technology and Industry Group Corporation Ltd. signed an agreement to acquire Shandong Holitech Chemical Co., Ltd. and Zibo Xinlianhua Logistics Co., Ltd. from Holitech Technology Co., Ltd. (SZSE:002217) for approximately CNY 950 million on December 28, 2021. The first payment (including performance bond) must not be less than 30% of total transfer price. Within 3 working days after the contract effective date, the buyer will pay the first payment (minus the performance bond) to Fujian Property Rights Exchange Center's designated bank account; the subsequent payments will be paid to the seller's bank account.

The buyer must pay the second payment before March 31, 2022. The total amount of the first and second payment will not be less than 51% of the total transaction amount. The buyer must pay the third payment before June 30, 2022.

The total amount of the first, second and third payment will not be less than 90% of the total transaction amount. The remaining balance must be paid within 1 year after the contract effective date. The transaction has been approved by the board of directors of Holitech Technology.