Suzhou Yangtze New Materials Co., Ltd. (SZSE:002652) agreed to acquire remaining 10.68% stake in Suzhou Huilai City Service Co., Ltd. from Yin Qianwen, Xiamen Changxi Group Co., Ltd., Cheng Bingqin, Qili (Shanghai) Enterprise Management Partnership Enterprise (Limited Partnership), Jin Yueguo and China Investment Construction (Shenzhen) Financial Leasing Co., Ltd. for CNY 15.7 million on December 31, 2021. The consideration will be paid in cash, 40% of the total price shall be paid before January 31, 2022, and the remaining amount shall be paid before April 30, 2022. After completion, Suzhou Yangtze New Materials Co.

will own 100% stake in Suzhou Huilai. On December 31, 2021, the 13th session of Suzhou Yangtze 5th directorate approved this transaction.