Ningbo Bangbangmang Trade Co., Ltd. entered into an agreement to acquire an additional 7.4% stake in Ningbo Techmation Co., Ltd. (SHSE:603015) from Red Factor Limited for approximately CNY 170 million on May 8, 2021. The consideration comprises of a transfer of 30 million shares of Ningbo Techmation Co., Ltd. at CNY 5.52 per share. The equity transfer price shall be paid within five years after the transfer of the shares to Ningbo Bangbangmang Trade Co., Ltd. Through this transaction, Ningbo Bangbangmang Trade Co., Ltd. will increase its shareholding to approximately 14.8%. The transaction will be funded through self-raised funds.