Hainan Chunhui Investment Partnership (Limited Partnership) signed an equity transfer agreement to acquire 16.5% stake in Hainan GETO New Materials Co., Ltd. from Jiangxi GETO New Materials Corporation Limited (SZSE:300986) for CNY 16.5 million on April 22, 2022. The entire equity transfer price will be paid within 3 months from the date of signing the agreement. If Hainan Chunhui Investment Partnership fails to pay the equity transfer payment within the agreed time limit, it shall be deemed as a breach of contract and Hainan Chunhui Investment Partnership shall compensate Jiangxi GETO New Materials Corporation Limited for the corresponding losses. Hainan GETO New Materials Co., Ltd. had total assets of CNY 338.05 million, net assets of CNY 100.26 million, operating income of CNY 26.69 million, operating profit of CNY 1.97 million and net profit of CNY 1.62 million for the three months ended March 31, 2022. The transaction does not require the approval of general meeting of shareholders of Jiangxi GETO New Materials Corporation Limited and the approval from relevant departments. The Board of Jiangxi GETO New Materials Corporation Limited has approved the deal on April 22, 2022. The deal is expected to close within 30 working days from the date of signing the agreement.