New East New Materials Co., Ltd (SHSE:603110) signed Share Transfer Agreement to acquire 51% stake in TD Tech Holding Limited from Nokia Solutions and Networks GmbH & Co. KG on April 7, 2023. As of December 31, 2022, TD TECH reported operating income of HKD 8.62 billion, net profit HKD 157.2 million, and total assets of HKD 5.75 billion. New East New Materials Co., Ltd board of directors approved the transaction. According to the provisions of relevant laws and regulations, the issuance of stocks to specific targets still needs to be submitted to the company's general meeting of shareholders for review and approval by the Shanghai Stock Exchange, and the China Securities Regulatory Commission agrees to register before it can be implemented.

New East New Materials Co., Ltd (SHSE:603110) cancelled the acquisition 51% stake in TD Tech Holding Limited from Nokia Solutions and Networks GmbH & Co. KG on December 19, 2023.