Jiecheng Zero Carbon (Jiangsu) New Energy Technology Co., Ltd. agreed to acquire a 9.50% stake in Xuancheng Valin Precision Technology Co., Ltd. (SHSE : 603356) from Huang Yehua, Ma Xiping and Huang Chao for approximately CNY 290 million on May 15, 2023. Under the terms, 12,667,300 shares at a price of CNY 22.50 per share in cash. As of May 15, 2023, the transaction has been approved by both board and the shareholders of Jiecheng Zero Carbon (Jiangsu) New Energy Technology.

The transaction is subject to regulatory approval. The transaction is expected to complete on May 31, 2023.