Gao Dapeng agreed to acquire additional 5% minority stake in Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. from Guangdong Rongtai High Grade Ceramic Co., Ltd. for CNY 60.9 million on May 6, 2022. Under the terms, 35,201,655 shares of Guangdong Rongtai will be acquired for CNY 17.3 per share. Post transaction, Gao Dapeng will hold 16.7648% stake in Guangdong Rongtai. Within five Business days from the date of this Agreement the parties shall open a jointly managed account (“Jointly Account”) in the name of the Gao Dapeng at a jointly designated bank before May 31, 2022, the Gao Dapeng will pay the entire transfer price to the jointly managed account. Unless otherwise agreed by the parties, the transfer price shall be paid to the jointly managed account first. If the auditor of the Guangdong Rongtai issues an audit report with disclaimer of opinion on the 2021 financial report or the general election of the board of directors cannot be completed before May 30, 2022, the Gao Dapeng has the right to: (A) immediately terminate this agreement without being liable for breach of contract or; or (B) extend the payment period to negotiate a settlement with Guangdong Rongtai High Grade for a period not exceeding 60 days. Gao Dapeng will pay the transfer Price in the Joint Account to the Guangdong Rongtai High Grade within two (2) business Days from the date of the fulfillment of the conditions precedent set forth in the following conditions. Payment of the transfer price is subject to the fulfillment or satisfaction of the conditions.

Gao Dapeng completed the acquisition of additional 5% minority stake in Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. from Guangdong Rongtai High Grade Ceramic Co., Ltd. on July 11, 2022.