Beijing Rongrui Investment Co., Ltd. signed framework agreement to acquire 20% in Xinjiang Hejin Holding Co.,Ltd (SZSE:000633) from Huoer Guosi Tonghai Equity Investment Co Ltd for approximately CNY 700 million on February 23, 2021. Under the terms, Beijing Rongrui Investment Co., Ltd. will acquire 77,021,275 shares of Xinjiang Hejin Holding Co.,Ltd. Post completion, Xinjiang Hejin Holding Co.,Ltd's control rights will change and Huoer Guosi Tonghai Equity Investment Co Ltd will no longer be a shareholder of Xinjiang Hejin Holding Co.,Ltd. The Share Transfer Framework Agreement signed this time is only the preliminary intentional agreement of the parties, and the specific content is subject to the formal agreement signed by the parties. Beijing Rongrui failed to sign a formal share transfer agreement before April 20, 2021 with Huoer Guosi Tonghai; Tonghai Equity Investment has the right to unilaterally terminate the "Framework Agreement" and has the right to pursue Rongrui Investment's liability for breach of contract in accordance with the "Framework Agreement"'s liability for breach of contract clause. As of now Huoer Guosi Tonghai reserves the right to unilaterally terminate the "Share Transfer Framework Agreement" and its supplementary agreements for the time being.

Beijing Rongrui Investment Co., Ltd. cancelled the acquisition of a 20% stake in Xinjiang Hejin Holding Co.,Ltd (SZSE:000633) from Huoer Guosi Tonghai Equity Investment Co Ltd on December 29, 2021. Due to the failure of the "Equity Transfer Agreement" to be signed as scheduled the transaction has been terminated.