Kingclean Electric Co.,Ltd (SHSE:603355) agreed to acquire 96.5455% stake in Rayval (Suzhou) Technologies Co., Ltd. from Kingclean Electric Investment Group Co., Ltd. and RayVal Holding Company Limited for CNY 270 million on August 22, 2023. On August 22, 2023, the 3rd session of the Kingclean Electric Co., Ltd. 6th directorate and the 2nd session of the Kingclean Electric Co., Ltd. 6th supervisory board approved the transaction. This transaction still needs to be approved by the company?s shareholders?

meeting. Financials at the date June 30, 2023 total assets for CNY 788 million and net assets of CNY 284.9 million. As of September 12, 2023, the transaction is approved by shareholders of Kingclean Electric Co.,Ltd.