Mubang Hi-Tech announced on the evening of March 18 that shareholder Bangling International and natural person Zheng Qingxiang (hereinafter referred to as the “transferee”) signed a “share transfer agreement” to transfer their 22 million unrestricted tradable shares (5.07% of the company's total share capital) to the transferee at a price of 17.59 yuan/share through an agreed transfer, with a transfer price of 387 million yuan. Zheng Qingxiang promised that the shares of the listed company transferred under this agreement will not be reduced within 12 months after the registration of the self-tendered stock transfer is completed.