Liu Xiang entered into an agreement to acquire Anhui Julong Robot Reducer. Co., Ltd. from Shannon Semiconductor Technology Co., Ltd. (SZSE:300475) for RMB 2.4 million on May 20, 2022. The board of directors of Shannon Semiconductor approved the deal. Shannon Semiconductor Robot Reducer reported total assets of RMB 11.54 million, revenue of RMB 4.56 million, net loss of RMB 1.69 million during the year ended December 31, 2021.

Liu Xiang completed the acquisition of Anhui Julong Robot Reducer. Co., Ltd. from Shannon Semiconductor Technology Co., Ltd. (SZSE:300475) on May 25, 2022.