China Testing & Certification International Group Co.,Ltd. (SHSE:603060) signed the agreement of equity transfer to acquire 70% stake in Anhui Huafang Metrology Technology Co., Ltd. from Zhang Yangyang, Dong Dachuan and Yang Daizhi for CNY 47.6 million on May 4, 2023. Parties decided unanimously that the transfer price of the target equity is CNY 47.6 million. The equity transfer payment involved in this transaction will be paid in three installments, and the payment ratios are 40%, 40% and 20%.

Zhang Yangyang selling 45.5% stake, Dong Dachuan is selling 21% stake and Yang Daizhi is selling 3.5% stake in Anhui Huafang Metrology Technology Co., Ltd. to China Testing & Certification International. Anhui Huafang Metrology Technology Co., Ltd. reported total assets of CNY 25.68 million and net assets of CNY 12.95 million at August 2022. China Testing & Certification International Group board of directors approved the transaction, and does not need to be submitted to the company's shareholders' meeting for consideration.