CSSC Science &Technology Co., Ltd (SHSE:600072) agreed to acquire CSIC Haizhuang Windpower Co., Ltd. from a group of investors for CNY 7.8 billion on January 11, 2022. For consideration, CSSC Science &Technology Co., Ltd will issue new shares at CNY 12.50 per share. In a related transaction, CSSC Science &Technology will acquire 10% stake in CSIC (Wuhan) Lingjiu Electronic Co., Ltd., 44.64% stake in Luoyang Sunrui Wind Turbine Blade Co., Ltd., 88.58% stake in CSSC Group Wind Power Development Co., Ltd. and 100% stake in CSIC Haiwei (Xinjiang) New Energy Co., Ltd. The transaction will be financed from supporting funds of not more than 100% of the acquisitions' total transaction price issuing not more than 30% of total share capital to not more than 35 investors, and the shares will be issued at not less than 80% of the average price in the 20 trading days before the pricing reference date. For the year ended on December 31, 2021, CSIC Haizhuang Windpower reported total assets of CNY 2.8 million, Net assets of CNY 0.3 million, Revenue of CNY 1.2 million and net profit of CNY 0.015 million. The transaction is subject to, The Second Approval of the CSSC Science &Technology Directorate, shareholders, Group of investors Internal Decision-Making Authorities' Approvals, The SASAC's Approval, the Anti-monopoly Bureau's Concentration of Undertakings Review Approval, the CSRC's Approval and other Necessary Approvals. The transaction has received approval by the SASAC's agreement in principle and Approval of the 7th Meeting of CSSC Science &Technology 9th Directorate. The transaction is has been approved by the Board of Guodian Nanjing Automation and is subject to the Shareholders' Approval. As on October 26, 2022, Transaction has been approved by Guodian Nanjing Automation shareholders. CSSC Science& Technology received “Approval of CSSC Science& Technology Co., Ltd.'s Asset Reorganization and Supporting Funding” issued by the State-owned Assets Supervision and Administration Commission of the State Council, agreeing in principle to the overall plan of the Company's acquisition of assets through the issuance of shares and cash and raising of supporting funds. On,November 15, 2022, CSSC Science & Technology Co., Ltd shareholder approves the transaction in Extraordinary Shareholders Meeting of 2022.