Shandong Port Equipment Group Co., Ltd. agreed to acquire 51% stake in Qingdao Port Equipment Manufacturing Co., Ltd. from Qingdao Port International Co., Ltd. (SEHK:6198) for RMB 100 million on October 28, 2022. As of October 28, 2022, the book value of 100% equity interests in Qingdao Port Equipment is RMB 120 million. The transaction is subject to approval from independent Shareholders.