Huang Qiang entered into an agreement to acquire additional 6.99% stake in Shanghai Original Advanced Compounds Co., Ltd (SHSE : 603991) from Shanghai Zhizheng Enterprise Group Co., Ltd. for approximately CNY 150 million on July 13, 2020. Under the terms, 5.2 million shares will be acquired at a price of CNY 27.8 per share. In a related transaction, Wang Quanquan entered into an agreement to acquire 6% stake in Shanghai Original Advanced Compounds on July 13, 2020. Post the completion of the transaction, Huang Qiang will hold 9% stake in Shanghai Original Advanced Compounds.