Zhejiang Chint Electrics Co., Ltd. (SHSE:601877) agreed to acquire 8.70% stake in Jiangsu Tongrun Equipment Technology Co.,Ltd (SZSE:002150) for approximately CNY 300 million on November 22, 2022. Under the terms, Post acquisition, Zhejiang Chint Electrics will acquire 31,019,262 shares. Zhejiang Chint will become a controlling shareholder in Jiangsu Tongrun Equipment. Transaction is reviewed and approved by the Zhejiang Chint Electrics board of directors.

Zhejiang Chint Electrics Co., Ltd. (SHSE:601877) completed 8.70% stake in Jiangsu Tongrun Equipment Technology Co.,Ltd (SZSE:002150) on May 16, 2023.