Guangdong Senssun Weighing Apparatus Group Ltd. (SZSE:002870) agreed to acquire an additional 10.88% stake in Ningbo Joyson Qunying Automotive Systems Co., Ltd. from Ningbo Joyson Electronic Corp. (SHSE:600699) for approximately CNY 460 million on July 8, 2022. The transaction will be financed by raising fund through issuance of new shares.

Transaction is subject to approval from CSRC , Shareholders and Board of directors. As on December 2, 2022, Guangdong Senssun Weighing Apparatus Group will raise supporting funds of not more than CNY 462.40 million. The board of Ningbo Joyson Electronic has approved the deal on December 1, 2022.

Yongxing Securities Co., Ltd. acted as financial advisor, Grandall (Guangzhou) Law Firm acted as legal advisor and KPMG Huazhen LLP Shanghai Branch acted as accountant to Guangdong Senssun Weighing Apparatus Group.