Baoding Tianwei Baobian Electric Co.,Ltd. (SHSE:600550) agreed to acquire additional 8.21% stake in Tianwei Baobian (Qinhuangdao) Transformer Co.,Ltd. from Hebei Province Construction & Investment Group Co.,Ltd for CNY 69.4 million on December 5, 2023. Baoding Tianwei Baobian was confirmed as the final transferee. The equity transfer agreement was signed on December 8, 2023.

The acquisition was approved by the Board of Directors of Baoding Tianwei Baobian.