TianJin 712 Communication & Broadcasting Co., Ltd. (SHSE:603712) agreed to acquire Tianjin Tongguang Group Zhenhai Technology Co., Ltd from Tianjin Communication and Broadcasting Group Co., Ltd. and Tianjin Tongguang Group Zhentong Electronics Co., Ltd for CNY 29.1 million on June 28, 2022. TianJin 712 Communication & Broadcasting Co., Ltd. board approved the transaction. As of year ended March 31, 2022, Tianjin Tongguang Group Zhenhai Technology Co., Ltd reported total assets of CNY 46.56 million and total common equity of CNY 35.27 million.