Zhejiang Shaoxing Wuzhou Printing and Dyeing Co., Ltd. completed the acquisition 22.3% stake in Zhejiang Sihai Spandex Fiber Co., Ltd. from Inner Mongolia Tianshou Technology and Development Co., Ltd..

Zhejiang Shaoxing Wuzhou Printing and Dyeing Co., Ltd. agreed to acquire 22.3% stake in Zhejiang Sihai Spandex Fiber Co., Ltd. from Inner Mongolia Tianshou Technology and Development Co., Ltd. (SZSE:000611) for approximately CNY 110 million on August 23, 2018. The consideration will be paid in cash. The transaction has been approved by the Inner Mongolia TianShou Technology&development, CO., LTD.’s 8th directorate in its 23rd meeting on August 24, 2018. The shareholders of Zhejiang Sihai Spandex Fiber Co., Ltd. made a resolution for the transaction on September 25, 2018. The Board of Inner Mongolia Tianshou Technology and Development approved the transaction on September 27, 2018. On December 17, 2018, Inner Mongolia Tianshou Technology and Development Co., Ltd. shareholders has approved the transaction. On September 26, 2019, Zhejiang Shaoxing Wuzhou Printing and Dyeing Co., Ltd. completed the acquisition of 17% stake in Zhejiang Sihai Spandex Fiber Co., Ltd. from Inner Mongolia Tianshou Technology and Development Co., Ltd. Zhejiang Shaoxing Wuzhou Printing and Dyeing Co., Ltd. completed the acquisition 22.3% stake in Zhejiang Sihai Spandex Fiber Co., Ltd. from Inner Mongolia Tianshou Technology and Development Co., Ltd. (SZSE:000611) on December 19, 2020. The transfer price of 5.26% stake is yet to be received.