Mao Jijun signed the share transfer agreement to acquire a 20% stake in Shanghai YangChe51 E-commerce Co., Ltd. from Ningbo Xianfeng New Material Co.,Ltd (SZSE:300163) for CNY 62.1 million on January 13, 2017. Post completion, Ningbo Xianfeng New Material Co.,Ltd will hold nil stake and Mao Jijun will hold 20% stake in Shanghai YangChe51 E-commerce Co., Ltd. The transaction was approved by the Board of Ningbo Xianfeng New Material Co.,Ltd in the 34th session of the 3rd directorate.