Shenzhen INVT Electric Co.,Ltd (SZSE:002334) agreed to acquire the remaining 35% stake in INVT Industrial Technology (Shanghai) Co., Ltd. from Kinway Limited and Shanghai Yingyu Investment Management Partnership Enterprise (Limited Partnership) for CNY 33.1 million on October 29, 2021. Shenzhen INVT Electric Co.,Ltd will acquire INVT Industrial Technology (Shanghai) Co., Ltd.'s 20% stake from Kinway Limited for CNY 30 million and 15% stake from Shanghai Yingyu Investment Management Partnership Enterprise (Limited Partnership) for CNY 3.1 million, and hold 100%. INVT Industrial Technology (Shanghai) Co., Ltd. reported total assets of CNY 89 million and total common equity of CNY 8.2 million as of September 30, 2021.

This has been approved in the 6th Meeting of the Company's 6th Directorate held on October 29, 2021, and does not need the Shareholders' Approval.