Hebei Huijin Electromechanical Co., Ltd. (SZSE:300368) agreed to acquire additional 36.4% stake in Chongqing Yunxingwangsheng Technology Co., Ltd. from Xiao Yang and Zou Aijun for approximately CNY 200 million on October 18, 2021. The consideration will be paid in cash. As per the transaction, Xiao Yang will sell 29.12% and Zou Aijun 7.28% stake in Chongqing Yunxingwangsheng Technology Co., Ltd. As on June 30, 2021, Chongqing Yunxingwangsheng Technology Co., Ltd. generated total assets of CNY 487.6 million and net assets of CNY 52.6 million.

The transaction is subject to shareholder's approval and is approved by Hebei Huijin Electromechanical Co., Ltd. board. Effective November 1, 2021, Handan Construction Investment Group approved the transaction.