Hainan Xinlian Micro Technology Co., Ltd. signed the agreement to acquire 20% stake in Wuhan Nusun Landscape Co., Ltd. (SZSE:300536) from Wu Liang for approximately CNY 710 million on June 7, 2022. As per the transaction, Hainan Xinlian Micro Technology Co., Ltd. will acquire 58.66 million shares at CNY 14.46 per share. As on September 15, 2022, Hainan Xinlian Micro Technology Co., Ltd. will acquire 58.66 million shares at CNY 12.16 per share.

Both parties agree that within 10 natural days from the date of signing this agreement, the transferee shall pay a deposit to the transferor, and the amount of the deposit shall not be less than CNY 242.35 million. On June 9, 2022, Hainan Xinlian Micro Technology Co., Ltd. signed the supplemental agreement to acquire 20% stake in Wuhan Nusun Landscape Co., Ltd. from Wu Liang for approximately CNY 830 million. Under the supplemental agreement, Hainan Xinlian Micro Technology Co., Ltd. has revised per share price from CNY 14.46 per share to CNY 14.20 per share.

Post completion, Wu Liang will hold 4.16% stake in Wuhan Nusun Landscape Co., Ltd.