Zhao Jian entered into an agreement to acquire Jiangxi Qianglian Electrical Co., Ltd. from Zhejiang Jinlihua Electric Co., Ltd. (SZSE:300069) on April 13, 2021. The consideration will be paid in cash. Parties of the transaction agree that buyer will pay 50% of consideration within 7 working days and remaining 50% of consideration will be paid within 30 days from the date when Zhejiang Jinlihua Electric Co., Ltd.'s general meeting of shareholders considers and approves the equity transfer. Jiangxi Qianglian Electrical reported total assets of CNY 138.04 million and net assets of CNY 47.08 million as on September 30, 2020; and total assets of CNY 148.5 million, net assets of CNY 53.9 million, operating revenue of CNY 45.6 million, operating profit of CNY 6.8 million and net profit of CNY 6.7 million in the period ended December 31, 2019. On April 13, 2021, the sixth meeting of the fifth Board of Directors of Zhejiang Jinlihua Electric Co., Ltd. reviewed and approved the transaction.

Zhao Jian cancelled the acquisition of Jiangxi Qianglian Electrical Co., Ltd. from Zhejiang Jinlihua Electric Co., Ltd. (SZSE:300069) on February 17, 2022.