Chongqing Changshui Technology Co., Ltd. signed an Equity Transfer Agreement to acquire a 65% stake in Shenzhen Xinlong Electronic Technology Co., Ltd. from Shenzhen Clou Electronics Co., Ltd. (SZSE:002121) for CNY 51.4 million on July 25, 2022. Chongqing Changshui has paid a deposit of CNY 5.135 million and will pay the remaining within 15 working days from the effective date of this agreement. If Chongqing Changshui fails to pay the equity transfer price within the time stipulated in this agreement, Shenzhen Clou has the right to terminate this agreement, and Chongqing Changshui shall pay 10% of the transfer price of the target equity as liquidated damages. Shenzhen Xinlong Electronic will go listed.