Infotmic Co., Ltd. (SZSE:000670) agreed to acquire the remaining 49% stake in Shenzhen Huaxinke Technology Co., Ltd. and World Style Technology Holdings Limited from Shaoxing Shangyu Yuxin Equity Investment Partnership Enterprise (Limited Partnership) and Shanghai Ruichen Communication Equipment Partnership Enterprise (Limited Partnership) for approximately CNY 630 million on April 25, 2021. Infotmic Co., Ltd. (SZSE:000670) entered into an agreement to acquire the remaining 49% stake in Shenzhen Huaxinke Technology Co., Ltd. and World Style Technology Holdings Limited from Shaoxing Shangyu Yuxin Equity Investment Partnership Enterprise (Limited Partnership) and Shanghai Ruichen Communication Equipment Partnership Enterprise (Limited Partnership) on April 26, 2021. Infotmic Co., Ltd. will issue 341.54 million shares to the counter parties for this acquisition. Prior to this transaction, Infotmic Co., Ltd. already holds 51% stake in Huaxinke and 51% stake in World Style. After, Huaxinke and World Style will become wholly-owned subsidiaries of Infotmic Co., Ltd. Infotmic Co., Ltd. will issue shares to the company’s largest shareholder Zhejiang Shunyuan Enterprise Management Co., Ltd. to raise supporting funds of not more than CNY 400 million. The funds will be used to pay intermediary agency fees and related taxes and fees for this transaction. The transaction is subject to approval of CSRC and the shareholders of Infotmic Co., Ltd. The transaction has been approved by the shareholders of Shenzhen Huaxinke Technology Co., Ltd. and World Style Technology Holdings Limited on April 25, 2021. The transaction has been approved by the general partners of Shaoxing Shangyu Yuxin Equity Investment Partnership Enterprise (Limited Partnership) and Shanghai Ruichen Communication Equipment Partnership Enterprise (Limited Partnership) on April 25, 2021. As on June 9, 2021, the State Administration for Market Regulation issued the , decided not to implement further review on the concentration involved in Shunyuan Enterprise Management’s subscription in this raising of supporting funds transaction. Hua Chuang Securities Co., Ltd acted as financial advisor, Tian Yuan Law Firm acted as legal advisor and Pan-China Certified Public Accountants acted as an accountant to Infotmic in the transaction.