CSSC Science &Technology Co., Ltd (SHSE:600072) agreed to acquire the remaining 44.6% stake in Luoyang Sunrui Wind Turbine Blade Co., Ltd. from National Civil-Military Integration Industrial Investment Fund Co., Ltd. and BoCom Financial Asset Investment Co., Ltd. on January 11, 2022. Under the terms, the consideration will be paid in new shares of CSSC Science &Technology at CNY 12.5 per share. In a related transaction, CSSC Science &Technology will acquire CSIC Haizhuang Windpower Co., Ltd., 10% stake in CSIC (Wuhan) Lingjiu Electronic Co., Ltd., 88.6% stake in CSSC Group Wind Power Development Co., Ltd. and CSIC Haiwei (Xinjiang) New Energy Co., Ltd. on January 11, 2022.

CSSC Science &Technology will raise supporting funds of not more than 100% of the acquisitions' total transaction price by issuing not more than 30% of total share capital to not more than 35 investors, and the shares will be issued at not less than 80% of the average price in the 20 trading days before the pricing reference date and proceeds will be used to supplement CSSC Science &Technology and working capitals of the companies being acquired or repay debt and projects under construction of the companies being acquired. For the year ended December 31, 2021, Luoyang Sunrui reported Total Assets of CNY 2.9 billion, net assets of CNY 0.8 billion, Revenue of CNY 2.3 billion and net profit of CNY 87.04 million. The transaction is subject to the second board of directors approval and the shareholders approval of CSSC Science &Technology, Internal Decision-Making Authorities' Approvals of National Civil-Military Integration Industrial and BoCom Financial Asset Investment, SASAC's Approval, Anti-monopoly Bureau's Concentration of Undertakings Review Approval, CSRC's Approval and other Necessary Approvals and approved by the board of directors of CSSC Science &Technology and obtained SASAC's agreement in principle.

As of September 30, 2022, The board of CSSC Science& Technology has approved the acquisition through the Issuance of shares and cash and raising of supporting funds. As on November 16, 2022, The shareholders of CSSC Science & Technology has approved the deal at 1st Extraordinary Shareholders Meeting held on November 15, 2022.