Hangzhou Youngsun Intelligent Equipment Co., Ltd. (SHSE:603901) signed an equity purchase agreement to acquire 70% stake in Langfang Baiguan Packaging Machinery Co., Ltd. and Langfang Zhongjia Intelligent Technology Co., Ltd. from a group of shareholders for approximately CNY 160 million on November 30, 2021. The consideration comprises of payment of CNY 40 million for the equity transfer to the account designated by Hangzhou Youngsun within 5 working days, CNY 60 million within 10 working days after the completion of the transaction, CNY 32.50 million within 10 working days after 6 months from the completion of the equity change registration of this transaction and remaining payment of CNY 32 million before January 31, 2023. As on September 30, 2021, Langfang Baiguan Packaging Machinery Co., Ltd. and Langfang Zhongjia Intelligent Technology Co., Ltd. generated combined total assets of CNY 436.9 million and net assets of CNY 91.5 million.