Guangxi Xinqianyi Technology Co., Ltd. agreed to acquire 42% stake in Liuzhou Shuangfei Auto Electric Appliances Manufacturing Co., Ltd. from Shenzhen Deren Electronic Co., Ltd. (SZSE:002055) for approximately CNY420 million on February 24, 2023. After the transfer, the Shenzhen Deren Electronic Co., Ltd. (SZSE:002055) will still hold 18%. This has been approved in the 14th Meeting of the Shenzhen Deren Electronic Co., Ltd. (SZSE:002055) 7th Directorate held on February 24, 2023, and does not need the Shareholders' Approval.

Guangxi Xinqianyi Technology Co., Ltd. completed the acquisition of 42% stake in Liuzhou Shuangfei Auto Electric Appliances Manufacturing Co., Ltd. from Shenzhen Deren Electronic Co., Ltd. (SZSE:002055) on March 23, 2023.