Advanced Fiber Resources (Zhuhai), Ltd signed the Equity Acquisition Agreement to acquire 52% stake in Shanghai B&A Technology Co., Ltd from Zhang Tao,Chen Bing, Ma Yun, Yangzhou Linxin Optoelectronics Industry Fund (Limited Partnership) and Shanghai Xin Yuan Equity Investment Management Co., Ltd for approximately CNY 160 million on January 26, 2024. Shanghai B&A Technology Co., Ltd reported Total assets worth CNY 110.1 million and Total Common equity of CNY 26.2 million on July 31, 2023. Transaction is already approved by Advanced Fiber Resources (Zhuhai)'s Board of director's.