Shanghai Gaijing New Energy Technology Co., Ltd. entered into a share transfer agreement to acquire a 90% stake in Shanghai Jingchuang Shanyue Technology Co., Ltd. from Shanghai Chuangli Group Co., Ltd. (SHSE:603012) for CNY 62 million on July 14, 2023. For the year ended December 31, 2022, Shanghai Jingchuang Shanyue reported Total assets of CNY 57.9 million, Net assets of CNY 57.9 million, revenue was nil and Net loss of CNY 1 million. The transaction is approved by the board of Shanghai Chuangli Group and does not require approval by shareholders.