Hang Xiao Steel Structure Co., Ltd. (SHSE:600477) intends to acquire remaining 9% stakes in Hang Xiao Steel Structure (Hainan) Co., Ltd. from Lu Yongjun and Qin Bo on August 26, 2022. Hang Xiao Steel Structure Co., Ltd will acquire 5% and 4% stakes from Lu Yongjun and Qin Bo respectively. For the period ended on June 30, 2022 Hang Xiao Steel Structure (Hainan) Co., Ltd. reported total assets and net assets of CNY 331.6900 million and CNY 132.259690 million.

The transaction is subject to approval of offer by Hang Xiao Steel Structure Co., Ltd. The transaction has been approved by Hang Xiao Steel Structure Co., Ltd. board of directors.