Luoyang Jiasheng Electric Control Technology Co., Ltd. agreed to acquire Luoyang Grasen Power Technology Co., Ltd from Jiangsu Yinhe Electronics Co.,Ltd. (SZSE:002519) for approximately CNY 140 million on April 19, 2023. Under the terms, Luoyang Jiasheng will pay CNY 86 million within 15 days after the signing of the agreement, CNY 24 million within 30 days after the completion of the registration modification, and CNY 30 million prior to December 31, 2023. As of February 28, 2023, Luoyang Grasen Power reported Total assets of CNY 220.29 million and Net Asset of CNY 158.79 million.

The transaction is approved by the board of Jiangsu Yinhe Electronics.