Guangdong High Dream Intellectualized Machinery Co., Ltd. (SZSE:300720) agreed to acquire a 20% stake in Chengdu NTS Software Co., Ltd. from Chengdu NTS Technology Co.,Ltd. for CNY 84.8 million on December 14, 2021. Guangdong High Dream signed an agreement to acquire a 20% stake in Chengdu NTS Software Co., Ltd. from Chengdu NTS Technology Co.,Ltd. on January 4, 2022. As part of the transaction, Guangdong High will pay the consideration using own funds and intends to provide a convertible loan of CNY 80 million to Li Rui, controller of Chengdu NTS to obtain the unconditional conversion rights Chengdu NTS. Following completion, Li Rui will hold not less than 70%, Chengdu NTS Technology will hold not greater than 10% and Guangdong High will hold 20% stake in Chengdu NTS. As of August 31, 2021, Chengdu NTS reported Total assets of CNY 120.1 million and Net assets of CNY 47.42 million. The transaction is approved by the board of directors of Guangdong High and still needs to be submitted to the general meeting of shareholders for deliberation. As of February 6, 2022, Guangdong received a notification letter from Chengdu NTS Technology that Chengdu NTS Software was frozen by the Intermediate People's Court of Chengdu and intends to resolve the matter as soon as possible by means of preservation replacement, execution objection, etc., to ensure the smooth progress of subsequent transactions. Guangdong High Dream Intellectualized Machinery has issued a letter of reminder to NTS Technology and Li Rui urging them to take effective measures as soon as possible within the time stipulated in the "Investment Agreement" to remove the rights of the target company's equity burden, meet the prerequisites stipulated in the agreement, and continue to perform the obligations of the counterparty under the Investment Agreement.

Guangdong High Dream Intellectualized Machinery Co., Ltd. (SZSE:300720) cancelled the acquisition of 20% stake in Chengdu NTS Software Co., Ltd. from Chengdu NTS Technology Co.,Ltd. on October 27, 2022.