Core Viewpoint - The core purpose of the equity change is to enhance the integration of the semiconductor business team within Baiao Chemical, injecting long-term momentum into the company's semiconductor business development and promoting overall stable growth [1][2]. Group 1: Equity Change Details - Liu Hongjun, a director and co-general manager of Baiao Chemical, acquired 10% of the company's shares through a share transfer agreement for approximately 1.986 billion yuan [1]. - The share transfer involves Liu Hongjun receiving 35.31 million shares from each of the two transferors, totaling 70.62 million shares, which represents 10% of the total share capital [1]. - The transfer price is set at 90% of the closing price of Baiao Chemical's stock on the day the agreement is signed, with each transferor receiving approximately 993 million yuan [1]. Group 2: Payment Terms and Funding Sources - The payment for the shares is divided into two phases, with the first payment of 1 billion yuan due within six months after Liu Hongjun issues a "Share Transfer Confirmation" to the designated accounts of the transferors [2]. - The remaining payment must be made within 10 days after the completion of the share transfer, and Liu Hongjun is required to pledge the acquired shares as collateral for the remaining payment [2]. - The funds for the share acquisition are sourced from the proceeds of Liu Hongjun's disposal of personal equity assets, which are stated to be legal and compliant [2]. Group 3: Strategic Business Development - Baiao Chemical is transitioning its main business focus from chemical operations to include semiconductor operations, aiming to establish independent development for both sectors [2]. - Liu Hongjun has extensive experience in the semiconductor equipment field, having previously held senior positions in related companies, which positions him well to lead the semiconductor business segment [2].