Cosmos Grand Plastics Co., Ltd., an indirect wholly-owned subsidiary of Cosmos Machinery Enterprises Limited, has agreed to sell its entire equity interest in Hefei Gelanmei New Materials Co., Ltd. The purchaser is Mr. Diao Junde, a resident of the People's Republic of China, who also serves as a director of both the seller and the target company. The consideration for the transaction is RMB4,649,502.49. Completion of the disposal will take place in accordance with the terms set out in the equity interest transfer agreement.
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