Li Qingsong signed a share transfer agreement to acquire 5.89% stake in Suzhou Yangtze New Materials Co., Ltd. (SZSE:002652) from Hu Weilin for CNY 88 million on October 18, 2021. As per terms, Li Qingsong will acquire 30,137,200 shares, at CNY 2.92 per share. Li Qingsong will pay CNY 72.06 million within 10 working days and remaining CNY 15.9 million within 10 days after completion. Post completion, Hu Weilin stake will reduce from 9.66% to 3.77%.