Ningbo Bangbangmang Trade Co., Ltd. signed the share transfer agreement to acquire 7.37% stake in Ningbo Techmation Co., Ltd. (SHSE:603015) from Red Factor Limited for approximately CNY 160 million on July 3, 2020. Under the terms, Ningbo Bangbangmang will acquire 30 million shares of Ningbo Techmation at a price of CNY 5.48 per share. The share transfer price will be fully paid within 5 years after the transfer of the target asset to the buyer. Ningbo Bangbangmang Trade Co., Ltd. completed the acquisition of 7.37% stake in Ningbo Techmation Co., Ltd. (SHSE:603015) from Red Factor Limited on July 3, 2020.