Guangdong Hongda Holdings Group Co., Ltd. (SZSE:002683) entered into Equity Transfer Framework Agreement to acquire 21% stake in Xinjiang Xuefeng Sci-Tech(Group)Co.,Ltd (SHSE:603227) from Xinjiang Xuefeng Investment Holding Co., Ltd. for CNY 2.2 billion on July 2, 2024. A cash consideration valued at CNY 9.8 per share will be paid by Guangdong Hongda Holdings for 225,055,465 shares. The transaction is subject to approval or confirmation of the state-owned assets supervision and administration department, the State Administration for Market Regulation, the Shanghai Stock Exchange and other relevant competent authorities, and the application for share transfer registration through the Shanghai Branch of China Securities Depository and Clearing Co., Ltd.