Longshine Technology Group Co., Ltd. (SZSE:300682) agreed to acquire 10% stake in Bang Dao Technology Co., Ltd from Wuxi Puyuan Investment Partnership Enterprise (Limited Partnership) for approximately CNY 300 million on July 10, 2023. Consideration will be done via via issuing shares. Bang Dao Technology reported Total assets worth CNY 1.74 billion and Total Common equity of CNY 1.43 billion as of October 31, 2023.

The transaction is approved by board of directors of Longshine Technology Group Co., Ltd. Transaction is subject to approval from Longshine Technology Group's shareholders, approval from Shenzhen Stock Exchange and China Securities Regulatory Commission. CITIC Securities Company Limited acted as financial advisor to Longshine Technology Group Co., Ltd. Jun He Law Offices acted as legal advisor to Longshine Technology Group Co., Ltd. PricewaterhouseCoopers Zhong Tian LLP acted as accountant to Longshine Technology Group Co., Ltd.