Beijing Zhongnanshan Investment Holding Co., Ltd. signed the share transfer agreement to acquire a 28.12% stake in Shenke Slide Bearing Corporation (SZSE:002633) from He Quanbo for approximately CNY 340 million on May 17, 2022. Under the terms, Beijing Zhongnanshan Investment will acquire 42,187,466 shares at CNY 8 per share. Beijing Zhongnanshan Investment shall deposit the consideration of CNY 50.6 million, equals to 15% of the total consideration within 15 working days, to a specific account established in the name of Beijing Zhongnanshan and jointly managed by the party designated by He Quanbo and within 180 days after the signing of this agreement, Beijing Zhongnanshan shall pay the remaining consideration of 85% to the specific account equals to CNY 286.9 million. In a related transaction, Tibet Tengyun agreed to acquire a 13.16% stake in Shenke Slide Bearing from He Jiandong for approximately CNY 160 million on May 17, 2022. China Post Securities Co., Ltd acted as financial advisor to Shenke Slide Bearing Corporation (SZSE:002633).