Hainan Jianlong Enterprise Management Co., Ltd. signed a share transfer framework agreement to acquire five Companies from Guangdong Chant Group Inc. (SZSE:002616) for approximately CNY 280 million on November 10, 2020. As per terms of transaction, Hainan Jianlong Enterprise Management Co., Ltd. will acquire Zhongshan Chant Smart Home Technology Co., Ltd., Chant Smart Life Technology (Beijing) Co., Ltd., Chant Thermal Energy Technology (Zhongshan) Co., Ltd., Zhongshan Junwei Electric Co., Ltd. and Chant (Hong Kong) Development Co., Ltd. from Guangdong Chant Group Inc. The transaction also includes creditor rights of Guangdong Chant Group Inc. As of January 29, 2021, Guangdong Chant Group Inc. has received a total of CNY 127 million in the first installment of the transaction consideration paid by Hainan Jianlong for the underlying equity. As of July 14, 2021, Guangdong Chant Group Inc. has received a total of CNY 49.4 million in the second phase installment of the transaction consideration. The transaction was reviewed and passed by Guangdong Chant Group Inc.'s 2021 first extraordinary general meeting of shareholders on January 15, 2021. Hainan Jianlong Enterprise Management Co., Ltd. completed the acquisition of Zhongshan Chant Smart Home Technology Co., Ltd., Chant Thermal Energy Technology (Zhongshan) Co., Ltd., and Zhongshan Junwei Electric Co., Ltd. from Guangdong Chant Group Inc. on April 15, 2021. As of July 15, 2021, Hainan Jianlong Enterprise Management Co., Ltd has completed the acquisition of Chant Smart Life Technology (Beijing) Co., Ltd. also.

Hainan Jianlong Enterprise Management Co., Ltd. completed the acquisition of five Companies from Guangdong Chant Group Inc. (SZSE:002616) on January 5, 2022. As of January 5, 2022, Guangdong Chant Group received the third installment of CNY 101 million and the five companies have completed the industrial and commercial change registration of shareholdings.