Senba Sensing Technology Co.,Ltd. (SZSE:300701) agreed to acquire 67% stake in Wuxi Gelintong Safety Equipment Co., Ltd. from Zhu Wei, Pan Jianxin, Lin Rongxiang, Wu Weining, Fan Jianping, Tang Rong, Yu Biao and Wuxi Ge?an Technology Partnership Enterprise (Limited Partnership) for CNY 220 million on May 22, 2023. CNY105.93 million will be paid in cash, CNY109.14 million will be paid by share issuance. As of August 17, 2023, Senba Sensing Technology Co.,Ltd. shareholders approved the transaction on AGM held on July 5, 2023. Senba Sensing Technology Co.,Ltd. board of directors approved the transaction. As of August 31, 2023, This transaction is subject to approval by the Shenzhen Stock Exchange and the China Securities Regulatory Commission. On May 19, 2023, Wuxi GLT held its shareholders? meeting, which approved the transaction. As of September 19, 2023, Senba Sensing Technology Co.,Ltd. will issue 12.73 million shares to sellers at CNY 8.57 per share for this acquisition.

Chen Mei; Geng Fan, Liu Xianzhi, Xu Zitao, Zhang Jing, Hu Xinhong of Hua Chuang Securities Co., Ltd. acted as financial advisor to Senba Sensing Technology Co.,Ltd. (SZSE:300701). Handling lawyers, Sha Qianli, Shen Yingxin of Brightstone Lawyers acted as legal advisor to Senba Sensing Technology Co.,Ltd. (SZSE:300701). Hu Yongbo, and Pan Jiayong of Mazars Certified Public Accountants LLP acted as accountant to Senba Sensing Technology Co.,Ltd. (SZSE:300701).