Henan Hongsen Rongyuan Enterprise Management Partnership Enterprise (Limited Partnership) agreed to acquire a 7.96% stake in Henan Senyuan Electric Co., Ltd. (SZSE:002358) from Chu Jinfu for approximately CNY 310 million on February 14, 2023. The share price is CNY 4.22 per Henan Senyuan Electric share. Hongsen Rongyuan won an auction to acquire 74.0174 million shares, representing approximately 7.96% stake in Henan Senyuan Electric.

After this transaction, Hongsen Rongyuan and its party acting in concert will own 168,868,000 shares in the Henan Senyuan Electric, accounting for 18.16% stake (of which, Hongsen Rongyuan will directly own 116,178,600 shares in Henan Senyuan Electric, accounting for 12.50% stake). The People's Court of Qixia District, Nanjing City approved public auction.