Jingdezhen State Owned Assets Operation and Investment Holding Group Co., Ltd signed an agareemnt to acquire 70% stake in Jingdezhen Public Transport Co., Ltd. from Jiangxi Changyun Co., Ltd. (SHSE:600561) for approximately CNY 120 million on September 13, 2021. The acquisition includes creditor's rights. The consideration of which the equity price is CNY 33.6 million and the credit principal and interest transfer price is CNY 89.9 million. Jingdezhen State Owned Assets Operation and Investment Holding Group Co., Ltd shall pay the entire equity transfer amount of CNY 33.6 million to the designated account of the Jiangxi Changyun within 5 working days from the effective date of the transaction contract. After the equity transfer payment is paid, the Jiangxi Changyun cooperates with the Jingdezhen State Owned Assets Operation in complete the registration procedures for the equity change of the target company within 5 working days. As on December 15, 2021, Jingdezhen State Owned Assets Operation and Investment Holding Group has received a transfer payment of CNY 33.6 million for 70% of Jingdezhen Public Transport Co., Ltd., and has transferred 70% of Jingdezhen Public Transport Co., Ltd. equity to Jingdezhen State Owned Assets Operation and Investment Holding Group Co., Ltd.

Jingdezhen State Owned Assets Operation and Investment Holding Group Co., Ltd completed the acquisition of 70% stake in Jingdezhen Public Transport Co., Ltd. from Jiangxi Changyun Co., Ltd. (SHSE:600561) on January 20, 2022.