On June 19, 2020, the Company held the fourth meeting of the eighth Board of Directors to review and approve the Proposal on the Acquisition of 100% Equity of Jiangsu Ocean Cooling Equipment Co., Ltd., and signed the Equity Transfer Agreement with Guo Shizhen, Yang Bo and Shen Zhichun on the same day, stipulating that the Company would purchase 100% equity of Jiangsu Ocean Cooling Equipment Co., Ltd. held by Guo Shizhen, Yang Bo and Shen Zhichun in total in cash at a transaction price of 80.66 million yuan. After this acquisition, Jiangsu Ocean Cooling Equipment Co., Ltd. will become a wholly-owned subsidiary of the company.