Guangdong Ruixiang Technology Co., Ltd agreed to acquire Greatoo (Tianjin) Investment Holding Co., Ltd from Greatoo Intelligent Equipment Inc. (SZSE:002031) for CNY 552 million on September 13, 2021. On September 13, 2021 and September 29, 2021, respectively held the 15th meeting of the seventh board of directors and the first extraordinary general meeting of shareholders in 2021 and the Proposal on the Public Listing and Transfer of 100% Equity in a Wholly-owned Subsidiary was reviewed and approved. As on December 31, 2021, the payment of 51% of the transaction consideration to the company in accordance with the "Equity Transfer Agreement, which is CNY 281.52 million.

Guangdong Ruixiang Technology Co., Ltd completed the acquisition of Greatoo (Tianjin) Investment Holding Co., Ltd from Greatoo Intelligent Equipment Inc. (SZSE:002031) on December 31, 2021.