TianJin JinRong TianYu Precision Machinery Inc. (SZSE:300988) agreed to acquire remaining 10% of stake in Zhejiang Jiaxing Jinrong Auto Parts Co., Ltd. from Wang Shunqing and Guo Wei for CNY 6.4 million on January 24, 2022. After the completion of the transfer, Jiaxing Jinrong will be changed to a wholly-owned subsidiary of TianJin JinRong. Board of Tianjin Jinrong Tianyu approved on January 24, 2022.

Zhejiang Jiaxing has a total assets of CNY 118 million and net assets of CNY 63 million as of October 31, 2021.