Hainan Development Holdings Nanhai Co., Ltd. (SZSE:002163) agreed to acquire additional 16.129% stake in Hnh Sanxin(Bengbu) New Energy Materials Co., Ltd. from Bengbu Investment Group Co., Ltd. for CNY 88.5 million on September 26, 2021. As on June 30, 2021, Hnh Sanxin(Bengbu) New Energy Materials Co., Ltd. generated total assets of CNY 1.07 billion and net assets of CNY 461.2 million. The transaction is subject to approval of State-owned Assets Supervision and Administration Commission and is approved by board of directors of Hainan Development Holdings Nanhai Co., Ltd.