GRG Banking Equipment Co., Ltd. agreed to acquire 90% stake in China Payment & Clearing Network Co., Ltd. from China Financial Certification Authority for CNY 265.5 million.

GRG Banking Equipment Co., Ltd. (SZSE:002152) agreed to acquire 90% stake in China Payment & Clearing Network Co., Ltd. from China Financial Certification Authority for CNY 265.5 million on November 23, 2022. The transaction was approved by GRG Banking Equipment Co., Ltd. 29th (provisional) meeting of the sixth board of directors. On November 21, 2022, the GRG Banking Equipment Co., Ltd received the "Letter of Opinion on Confirmation of Transfer Qualification" issued by Beijing Equity Exchange.

On November 22, 2022, the GRG Banking Equipment Co., Ltd. paid a transaction deposit of CNY 50 million to the account designated by the Beijing Stock Exchange, and received the Transaction Signing Notice issued by the Beijing Stock Exchange. The deal still needs to be approved by the People's Bank of China, the anti-monopoly law enforcement agency's operator concentration declaration and other relevant authorities' approval. As of April 8, 2023, the transaction is approve by People's Bank of China.