Wushi Fengbao No. 1 Private Securities Investment Fund, managed by Xiamen Wushi Private Fund Management Co., Ltd. signed an agreement to acquire a 7% stake in Red phase INC. (SZSE:300427) from Yang Baotian for approximately CNY 330 million on February 25, 2022.

Wushi Fengbao No. 1 Private Securities Investment Fund, managed by Xiamen Wushi Private Fund Management Co., Ltd. completed the acquisition of a 7% stake in Red phase INC. (SZSE:300427) from Yang Baotian on March 23, 2022.