Wuchan Zhongda Yuantong Industrial Group Co., Ltd. and Wuchan Zhongda (Zhejiang) Industrial Investment Co., Ltd. signed an agreement to acquire a 29% stake in Geron Co.,Ltd (SZSE:002722) from On Fu International (HK) Investment Limited and Nantong Geron Holdings Co., Ltd. for CNY 1 billion on January 4, 2022. Shares will be purchased at CNY 19.64 yuan per share. Wuchan Zhongda Yuantong Industrial Group Co., Ltd. and Wuchan Zhongda (Zhejiang) Industrial Investment Co., Ltd. signed supplemental agreement to acquire a 22% stake in Geron Co.,Ltd from On Fu International (HK) Investment Limited and Nantong Jinlun Holdings Co., Ltd. for approximately CNY 750 million.

As part of this agreement, Wuchan Zhongda Yuantong and Wuchan Zhongda (Zhejiang) Industrial will acquire 38,606,513 shares, accounting for 22% stake, for CNY 19.45 per share. Of which, Nantong Jinlun Holdings Co., Ltd. will transfer 9,818,655 shares to Wuchan Zhongda Yuantong and 11,581,954 shares to Wuchan Zhongda (Zhejiang) Industrial whereas Fu International (HK) Investment Limited will transfer 17,205,904 shares to Wuchan Zhongda Yuantong. The transaction consideration of the first phase was adjusted to CNY 334.59 million, the second phase consideration adjusted to CNY 300.3 million, and the third phase consideration adjusted to CNY 115.86 million.

Board of director of Wuchan Zhongda Group Co.,Ltd have unanimously approved the transaction. Wuchan Zhongda Yuantong received the Decision on No Further Review of the Anti-monopoly Review on Concentration of Business Operators issued by the State Administration for Market Regulation. The supplemental agreement is approved by the board of Wuchan Zhongda.

On May 20, 2022, State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province has approved the transaction.