Baosheng Science and Technology Innovation Co.,Ltd. (SHSE:600973) signed equity transfer agreement to acquire 52% stake in AVIC Xi'an Aircraft Industry (Group) Hengtong Aviation Electronics Co., Ltd from Baosheng Group Co., Ltd. for CNY 18.3 million on June 23, 2019. The transaction price has been momentarily set in CNY 18.2 million. Final price will be defined after the results of State-owned assets supervision and management authorization. As of October 12, 2020, Baosheng Science and Technology Innovation Co.,Ltd. agreed to acquire 52% stake in AVIC Xi'an Aircraft Industry (Group) Hengtong Aviation Electronics Co., Ltd from Baosheng Group Co., Ltd. for CNY 21.6 million. The payment for the acquisition will be done in one single installment within 10 days after the state-owned assets supervision and management authorization department has filed the results of the assessment. For the year ended December 31, 2018, AVIC Xi'an Aircraft Industry (Group) Hengtong Aviation Electronics Co., Ltd reported total assets of CNY 4.38 million, revenue of CNY 93.42 million, net profit of CNY 0.05 million and net assets of CNY 32.09 million. Baosheng Science and Technology Innovation Co.,Ltd.'s 4th meeting of the 7th directorate approved the transaction. On October 12, 2020, 17th session of Baosheng Science and Technology Innovation Co.,Ltd's 7th directorate approved the transaction. Approval from the shareholders of Baosheng Science and Technology Innovation Co.,Ltd. is still pending. On March 15, 2021, the shareholders of Baosheng Science and Technology Innovation Co.,Ltd. approved the transaction. Baosheng Science and Technology Innovation Co.,Ltd. (SHSE:600973) completed the acquisition of 52% stake in AVIC Xi'an Aircraft Industry (Group) Hengtong Aviation Electronics Co., Ltd from Baosheng Group Co., Ltd on June 28, 2021. AVIC Xi'an Aircraft Industry (Group) Hengtong Aviation Electronics Co., Ltd has obtained the "Business License" renewed by the Market Supervision Administration of the place of registration