Zhang Minghao signed a stake transfer agreement to acquire 10% stake in Lianyungang Huanghai Machinery Co., Ltd. (SZSE:002680) from Liu Liangwen and Yu Chenpan for approximately CNY 290 million in cash on June 29, 2015. Zhang Minghao will acquire 13.6 million shares of Lianyungang Huanghai Machinery for CNY 20.9647 per share. Zhang Minghao will acquire 6.8 million shares from Yu Chenpan and 6.8 million shares from Liu Liangwen. The transaction is subject to approval of shareholders of Lianyungang Huanghai Machinery and approval of the China Securities Regulatory Commission. The Board of Directors of Lianyungang Huanghai Machinery approved the transaction. V&T Law Firm acted as legal advisor and Industrial Securities Co., Ltd. acted as financial advisor to Lianyungang Huanghai Machinery Co.

Zhang Minghao completed the acquisition of 10% stake in Lianyungang Huanghai Machinery Co., Ltd. (SZSE:002680) from Liu Liangwen and Yu Chenpan on December 24, 2015.