Suzhou Lvmai Electric Holdings (Group) Co., Ltd. signed contract to acquire 5% stake in Suzhou Industrial Park Heshun Electric Co., Ltd. (SZSE:300141) from Yao Jianhua for approximately CNY 190 million on December 1, 2021. As per the transaction, Suzhou Lvmai Electric Holdings (Group) Co., Ltd. will acquire 12.69 million shares at CNY 15 per share. Post completion, Suzhou Lvmai Electric Holdings (Group) Co., Ltd. will hold 10% stake while Yao Jianhua will have 29.8% stake of Suzhou Industrial Park Heshun Electric Co., Ltd.

Suzhou Lvmai Electric Holdings (Group) Co., Ltd. completed the acquisition of 5% stake in Suzhou Industrial Park Heshun Electric Co., Ltd. (SZSE:300141) from Yao Jianhua on December 17, 2021.