Jiangsu Gian Technology Co., Ltd. (SZSE:300709) Equity Acquisition Framework Agreement to acquire Changzhou Ruidian Precision Technology Co., Ltd. from group of sellers for CNY 230 million on November 18, 2021. As part of the transaction, Jiangsu Gian will acquire 55% stake from Wang Mingxi, 10% from Jin Wenying, spouse of Wang Mingxi, 10% from Huang Yichao, 7% from Changzhou Ruidian Venture Capital Partnership (Limited Partnership), 6% from Xu Tianmin, 4% from PARKHYUNGDON, 3% each from Jin Wenhui and You Mingdong, and 2% from Liu Huifen. The transaction will be funded by own or self-raised funds.

As of September 30, 2021, Changzhou Ruidian Precision reported Total assets of CNY 130.6 million and Net assets of CNY 24.1 million. The transaction is approved by the board of directors of Jiangsu Gian and needs to be submitted to the general meeting of shareholders for deliberation. On December 24, 2021, Jiangsu Gian Technology shareholders approved the deal.

On December 29, 2021, Jiangsu Gian Technology Co., Ltd. entered into definitive agreement with Changzhou Ruidian Precision Technology Co., Ltd shareholders.