Hangzhou Greatstar Industrial Co., Ltd (SZSE:002444) agreed to acquire 70% stake in Allan Ruiqi Cleaning Equipment (Shanghai) Co., Ltd. from Sand Future Holding Hong Kong Ltd. for approximately CNY 280 million on November 8, 2022. The funds required for this transaction are self-raised by the company. On November 8, 2022, at the twenty-sixth meeting of the fifth board of directors of the company approved this proposal.