Kangqi Patience No. 1 Private Securities Investment Fund managed by Guangzhou Kangqi Asset Management Center (Limited Partnership) agreed to acquire 4.3727% stake in Jiangsu Boamax Technologies Group Co., Ltd. from Zhu Yongfu for CNY 95.6 million.

Jiangsu Boamax Technologies Group Co Ltd, formerly Suzhou Boamax Technologies Group Co Ltd, is a China-based company principally engaged in the research, development, design, manufacture and distribution of industrial grade numeral control (NC) sheet metal structural products, wet chemical equipment and boiler equipment. The Company is also engaged in energy conservation and environmental protection businesses, including the manufacture and sales of monitoring equipment, as well as the provision of related technical services. The Company distributes its products in domestic market and to overseas markets.