Luoyang Jincheng Zhihui Yunlian Technology Co., Ltd. won the bid and signed share purchase agreement to acquire 85% stake in Huzhou Jinguan Hongtu Membrane Technology Co., Ltd. from Jilin Jinguan Electric Co., Ltd. (SZSE:300510) for approximately CNY 120 million on December 23, 2020. Luoyang Jincheng Zhihui Yunlian Technology Co., Ltd. has paid a deposit of CNY 8.6682 million, and pay the remaining amount within 1 year. In separate transaction, Luoyang Jincheng Zhihui Yunlian Technology Co., Ltd. won the bid and signed share purchase agreement to acquire 85% stake in Liaoyuan Hongtu Lithium-ion Battery Separator Technology Co., Ltd. from Jilin Jinguan Electric Co., Ltd. (SZSE:300510) for approximately CNY 580 million. Jilin Jinguan Electric held the 10th Meeting of the 5th Directorate and the 1st Extraordinary Shareholders Meeting of 2020, respectively, and approved the public listing transfer of Liaoyuan Hongtu Lithium-ion Battery Separator Technology Co., Ltd. and Huzhou Jinguan Hongtu Membrane Technology Co., Ltd.’s 85% stakes. Within 15 days after the contract becomes effective, the transfer will be completed. Luoyang Jincheng Zhihui Yunlian Technology Co., Ltd. completed the acquisition of 85% stake in Huzhou Jinguan Hongtu Membrane Technology Co., Ltd. from Jilin Jinguan Electric Co., Ltd. (SZSE:300510) on December 30, 2020.