Shenzhen Boyuan Enterprise Management Center (Limited Partnership) entered into a stake transfer agreement to acquire 5.6% stake in JingAo Solar Co., Ltd. from Ningjin Jingtaifu Technology Co., Ltd. on September 26, 2018. Post completion, Ningjin Jingtaifu Technology holds 86.88% stake in JingAo Solar. In a related transaction, JingAo Solar entered into a capital increase agreement on September 28, 2018. As of September 30, 2018, JingAo Solar reported total assets of CNY 23.8 billion and total owners’ equity of CNY 5.48 billion. As on October 15, 2018, shareholders of JingAo Solar adopted a resolution approving the transaction. As on October 16, 2018, JingAo completed industry and commerce registration modification at Ningjin Administration for Industry and Commerce and received the business license after the changes. Shenzhen Boyuan Enterprise Management Center (Limited Partnership) completed the acquisition of 5.6% stake in JingAo Solar Co., Ltd. from Ningjin Jingtaifu Technology Co., Ltd. on October 16, 2018.