Beijing Xiangguang Tongda International Investment Management Co., Ltd agreed to acquire 5% stake in Hunan Baili Engineering Sci&Tech Co.,Ltd (SHSE:603959) from Tibet Xinhai New Venture Capital Co., Ltd. for CNY 430 million on September 14, 2021. Under the terms Beijing Xiangguang Tongda International Investment Management Co., Ltd will acquire 24.5 million shares for CNY 17.52 per share. The first share transfer price is CNY 250 million, and the transferee shall make a lump-sum payment to the bank account designated by the transferor within the next working day after obtaining the Shanghai Stock Exchange's compliance review confirmation letter. The second share transfer price is CNY 179.5 million and the transferee shall make a lump-sum payment to the bank account designated by the transferor before December 31, 2022. In a related transaction the controlling shareholder sells another 6% stake in Hunan Baili Engineering Sci&Tech Co.,Ltd.