Shenzhen International Holdings Limited (SEHK:152) entered into a share transfer agreement to acquire a 70% stake in Shenzhen SEG Technology Development Co., Ltd. from Shenzhen Electronics Group Co.,Ltd for approximately CNY 330 million on October 21, 2021. Consideration will be paid in cash. CNY 116.71 million will be paid within 10 Business Days from the date of signing of the Share Transfer Agreement, CNY 166.74 million shall be paid within 10 Business Days from the completion date of the business registration of the share transfer of Shenzhen SEG and CNY 50.02 million shall be paid within 10 Business Days from the date that all the tenants of Shenzhen SEG's Pingshan industrial park have vacated the premises.

Shenzhen SEG reported net assets of CNY 476.4 million for the year ended October 31, 2020. Shenzhen SEG reported net loss of CNY 1.45 million for the year ended December 31, 2020. Shenzhen SEG reported net assets of CNY 77.8 million for the year ended June 30, 2021.

Upon Completion, Shenzhen International Holdings shall be responsible for the daily operation and management of Shenzhen SEG. The board of directors of Shenzhen SEG shall comprise five directors, amongst which three directors (including the chairperson) shall be nominated by Shenzhen International Holdings.