Vanfund Urban Investment and Development Co., Ltd. (SZSE:000638) agreed to acquire 29.52% stake in Hubei Xinruiguang Electromechanical Technology Co., Ltd. from Shifou Style (Beijing) Technology Co., Ltd. for CNY 3.7 million on November 3, 2023. Hubei Xinruiguang Electromechanical Technology Co., Ltd. reported assets of CNY 46 million and net assets of CNY 15.79 million on September 30, 2023. This transaction does not require approval from relevant departments, and approval by the shareholders' meeting is not required.