Jouder Precision Industry (Kunshan) Co., Ltd. (SZSE:300549) agreed to acquire 80% stake of Qingdao DEXI Intelligent Equipment Co., Ltd. from Qingdao Jinhuamao International Trade Co., Ltd. and Zhou Xiang for CNY 16 million on August 20, 2020. Jouder Precision will acquire 34.68% stake for CNY 9.06 million from Qingdao Jinhuamao and 45.32% stake for CNY 6.94 million from Zhou Xiang. Jouder Precision shall pay the first transfer payment of CNY 3.2 million to the account designated by the sellers within ten working days from the date of signing of the agreement, Jouder Precision shall pay the second transfer amount of CNY 9.6 million to the account designated by the sellers within ten working days from the date when all the prerequisites listed in Article 2.1 of the agreement are met or are exempted by it and finally Jouder Precision shall pay the third transfer amount of CNY 3.2 million to the seller’s designated account within ten working days after the Qingdao DEXI’s 2020 audit report is issued and Jouder Precision has paid the second payment and both the conditions are met. After the transaction is completed, Qingdao DEXI will become Jouder Precision's holding subsidiary holding 80% stake and Zhou Xiang holding a 20% stake in Qingdao DEXI. The transaction was approved by the Board of Directors of Jouder Precision.