Midea Group Co., Ltd. (SZSE:000333) signed a share purchase agreement to acquire DORNA Technology Co., Ltd. from Hiconics Eco-energy Technology Co., Ltd. (SZSE:300048), Zheng Nanzhong, Lv Chunsong, Li Min, Lei Qin and others on November 12, 2020. Under the terms of transaction, Hiconics Eco-energy Technology will transfer 74.085% stake in DORNA Technology Co., Ltd. for CNY 185.2125 million and at the same time, Zheng Nanzhong, Lv Chunsong, Li Min, Lei Qin, Yi Jian, Zhu Tong will transfer 25.915% stake in Dorna Technology. As of year ending 2019, DORNA Technology reported total assets of CNY 223.080129 million, net asset of CNY 108.53721 million, revenue of CNY 175.68 million, operating profit of CNY 7.178527 million and net profit of CNY 3.83809 million.

Transaction is subject to customary closing conditions, including approval of Hiconics Eco-energy Technology 2nd special shareholders' meeting for 2020. The transaction is approved by 7th session of the Hiconics Eco-energy Technology 5th directorate and the 7th session of the Hiconics Eco-energy Technology 5th supervisory board.