Shanghai Sinotec (Group) Co., Ltd. (SHSE:603121) entered into an investment agreement to acquire 50.2% stake in Wuxi Shengbang Electronics Co., Ltd. from Ningbo Shengxiang Enterprise Management Co., Ltd., Ningbo Xinzhishang Financial Consulting Partnership Enterprise (Limited Partnership) and Ningbo Xianglin Technology Service Partnership Enterprise (Limited Partnership) for CNY 250 million on November 15, 2022. As of December 2021, Wuxi Shengbang reported total assets of CNY 301.43 million and net assets of CNY 62.831 million.
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- Shanghai Sinotec Co., Ltd. entered into an investment agreement to acquire 50.2% stake in Wuxi Shengbang Electronics Co., Ltd. from Ningbo Shengxiang Enterprise Management Co., Ltd., Ningbo Xinzhishang Financial Consulting Partnership Enterprise (Limited Partnership) and Ningbo Xianglin Technology Service Partnership Enterprise (Limited Partnership) for CNY 251 million.