Beijing Zhongshun Yixin New Energy Technology Co., Ltd. signed the framework equity transfer agreement to acquire 5.01% stake in Sinovel Wind Group Co., Ltd. (SHSE:601558) from DHI·DCW Group Co.,Ltd. for approximately CNY 330 million on August 14, 2019. The share transfer agreement was signed by DHI·DCW Group Co.,Ltd. and Beijing Zhongshun Yixin New Energy Technology on August 14, 2019. As per the terms, 302.1 million shares will be acquired at CNY 1.1 per share. Out of total consideration, CNY 20 million has already been paid before signing of the agreement. Within 10 days since signing of the agreement, another CNY 79.7 million will be paid between 5 and 10 days after signing of the agreement. The remaining payment will be made within 5 days after approval from the Dalian State-owned Assets Supervision and Administration Commission. As of November 12, 2019, Beijing Zhongshun Yixin New Energy Technology Co., Ltd. has paid 30% of the consideration. Post-acquisition, DHI·DCW Group Co.,Ltd. will hold 10.5% share. In a related transaction, Beijing Zhongshun Yixin New Energy Technology Co., Ltd. intends to acquire 10.5% stake in Sinovel Wind Group Co., Ltd. (SHSE:601558) for approximately CNY 700 million on August 14, 2019. The transaction is subject to approval from the State-Owned Assets Supervision and Administration Commission of Dalian City and has been approved by the DHI·DCW Group Co.,Ltd.’s Board of Directors on August 14, 2019. The transaction shall be completed and submitted within 6 months after the signing of this agreement.