Beijing Hengyu Datacom Aviation Equipment co., LTD. signed an acquisition intention agreement to acquire Xi'an Leihang Electronic Information Technology Co., Ltd from He Yaping and He Bin on September 17, 2023. The Company intends to purchase all or part of the shares of Xi'an Leihang by issuing shares and paying cash. He Yaping and He Bin hold 88.00% and 12.00% of the shares of Xi'an Leihang respectively.

The transaction is subject to necessary internal decision-making procedures and must be approved by the competent regulatory authorities. As of October 9, 2023, Beijing Hengyu Datacom Aviation Equipment and the counter party signed the acquisition of asset through share issuance and cash payment agreement. The issue price for this asset acquisition is CNY 40.49 per share.

The transaction is still subject to the completion of the target?s audit and appraisal works, Beijing Hengyu Datacom Aviation Equipment Co., Ltd. would need to hold another directorate to approve the transaction?s formal plan. Beijing Hengyu Datacom Aviation Equipment shareholders? approval, and Shenzhen Stock Exchange and CSRC approval.