Nanjing Inform Storage Equipment (Group) Co., Ltd. (SHSE:603066) signed an intention agreement to acquire Beijing VSTRONG Technology Co., Ltd. from Yin Junqi, Qi Qingmin, Wang Xinxu, Qu Xiaotong, Qin Xubin and Beijing Yiwei Zhicheng Technology Center (Limited Partnership) on May 20, 2022. The consideration will include the issuance of shares and cash payment. Upon completion of the transaction, Nanjing Inform Storage Equipment will hold a 100% stake in Beijing VSTRONG. Nanjing Inform Storage Equipment (Group) Co., Ltd. will be carrying out a private placement for raising supporting funds. Beijing VSTRONG had total assets of CNY 351.96 million, owner's equity of CNY 74.19 million, operating profit of CNY 324.31 million and net profit of CNY 28.31 million, for the period ended December 31, 2021. The transaction is subject to the approval of the China Securities Regulatory Commission, competent state-owned assets supervision and administration department, general meeting of shareholders of Nanjing Inform Storage Equipment and formal agreement. As of June 2, 2022, the decision-making procedures and approvals that have been performed for this transaction: Beijing VSTRONG held a shareholders' meeting and Nanjing Inform Storage Equipment held the 15th meeting of the 4th board of directors to consider and approved the transaction.

Nanjing Inform Storage Equipment (Group) Co., Ltd. (SHSE:603066) completed the acquisition of Beijing VSTRONG Technology Co., Ltd. from Beijing Yiwei Zhicheng Technology Center (Limited Partnership) on September 30, 2022.