Jiangsu Jiuding New Material Co., Ltd. (SZSE:002201) and Shenzhen Zhengwei Financial Holdings Co., Ltd. signed a equity acquisition intent agreement to acquire 51% stake in Tongchuan Jiufang Xunda Microwave System Co., Ltd. and Sinotekco Microwave System Co., Ltd. from Arralis Technology Company Limited on July 20, 2021. The consideration shall be paid in cash. The transaction was approved by the board of Jiangsu Jiuding New Material Co., Ltd. on July 20, 2021 at 1st session of 10th directorate. The transaction shall be subject to the formal equity transfer agreement.