Suzhou Yingdong Mould & Plastic Co., Ltd. signed an agreement to acquire Qingdao Yingdong Mould & Plastic Technology Group Co., Ltd. from Shanghai YongLi Belting Co., Ltd (SZSE:300230) for approximately CNY 320 million on June 15, 2021. The total consideration includes CNY 614 million, wherein CNY 324 million will be for the share transfer and CNY 290 million for the dividends receivables. As of September 15, 2021, Shanghai YongLi Belting Co., Ltd has received CNY 313.14 million as the first installment which was supposed to be received within 90 days of the signing of the agreement. For the year ended December 31, 2021, Qingdao Yingdong Mould & Plastic Technology Group Co., Ltd. reported Total Assets as CNY 1.248 billion, Net Assets for CNY 271.532 million, Revenue for CNY 1.375 billion, Operating Profit for CNY 63.594 million and Net Profit for CNY 40.433 million. The transaction is subject to the Shareholders’ Approval.