Senma Sold 100% Equity Of Senkai Holdings With 679 Million Yuan

On August 11, the company announced that the seventh meeting of the Fifth Board of directors was held on August 11, 2020, and the "proposal on signing and related party transactions with controlling shareholders" was deliberated and passed.

Recently, the audit and appraisal work has been completed. It is agreed that the company and SEMAR Group signed the equity transfer agreement on Senkai (Wenzhou) Holding Co., Ltd., and the company agreed to sell 100% of its equity of Senkai holdings to Senma group at a price of 6780 million yuan.

The above conditions are as follows: when Senma group acquires 100% equity of Senkai holdings, it will also acquire the creditor's rights of RMB 113 million (hereinafter referred to as "creditor's rights") of Senkai holdings held by the company as of July 31, 2020.

Qiu Guanghe, Qiu Qiangqiang, Zhou Pingfan, Qiu Yanfang and Dai Zhiyue, the actual controllers of the company, jointly hold 100% equity of SEMAR group. According to the stock listing rules, SEMAR group is a related party of the company. This transaction constitutes a connected transaction.