Suzhou Lvmai Electric Holdings (Group) Co., Ltd. agreed to acquire a 5% stake in Suzhou Industrial Park Heshun Electric Co., Ltd. (SZSE:300141) from Yao Jianhua for approximately CNY 190 million on November 23, 2022.

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 21, 2022. Post completion, Yao Jianhua holds 23.85% stake and Suzhou Lvmai Electric holds 20% stake in Suzhou Industrial Park Heshun Electric.