Nantong Haixing Electronics Co., Ltd. (SHSE:603115) agreed to acquire remaining 10% stake in Ningxia Haili Electronics Co., Ltd. from Shizuishan Haichuan Investment Co., Ltd for CNY 10 million on January 25, 2022. Post completion, Nantong Haixing Electronics Co., Ltd's shareholding in Ningxia Haili Electronics Co., Ltd will increase from 90% to 100% and Ningxia Haili Electronics Co., Ltd will change from Nantong Haixing Electronics Co., Ltd's holding subsidiary to a wholly-owned subsidiary. Nantong Haixing Electronics Co., Ltd. will pay the consideration from its own funds.

As of September 2021, Ningxia Haili Electronics Co., Ltd. reported Net assets of CNY 97 million and Total Assets of CNY 200.3 million. As of January 25, 2022, Nantong Haixing Electronics Co., Ltd's board of directors and the board of supervisors reviewed and approved the transaction and does not need to be submitted to the Nantong Haixing Electronics Co., Ltd's general meeting of shareholders for consideration and approval.