Shaoxing Jinda Video Technology Co., Ltd. signed an equity transfer agreement to acquire 82.01% stake in Jiangsu Kersen Optoelectronics Technology Co., Ltd. from Kunshan Kersen Science & Technology Co.,Ltd. (SHSE:603626) for approximately CNY 250 million on April 19, 2021. Under the terms of transaction, Shaoxing Jinda Video Technology will pay CNY 125 million within 3 months from the date of signing this agreement and balance of CNY 124.9634 million within 6 months after the transferor completes the procedures for industrial and commercial changes. As of February 28, 2021, Jiangsu Kersen Optoelectronics Technology reported total assets of CNY 541.98 million and net assets of CNY 204.003 million. The transaction has been reviewed and approved at the nineteenth meeting of the third board of directors of Kunshan Kersen Science & Technology and it still needs to be submitted to the general meeting of shareholders for deliberation.