BOE Technology Group Company Limited (SZSE:000725) intends to transfer 16.67% stake in Beijing Electronics Holding Co., Ltd. from NAURA Technology Group Co., Ltd. (SZSE:002371) for CNY 100 million on July 23, 2020. The payment will be made in cash. Under the condition that of the industrial and commercial change registration agreed by both parties has been completed, BOE Technology Group shall pay NAURA Technology the transfer price under the agreement no later than December 31, 2020.

Post the completion of the transaction, NAURA Technology will no longer hold equity in Beijing Electronics. For the year ending December 31, 2019, Beijing Electronics reported total assets worth CNY 112.73 million, net assets worth CNY 112.57 million, nil operating revenues, an operating loss of CNY 1.43 million and a net loss of CNY 1.43 million. The sixth meeting of NAURA Technology's seventh Board of Directors was deliberated and approved the transaction.