Zhejiang Huatie Emergency Equipment Science & Technology Co.,Ltd. (SHSE:603300) signed an agreement to acquire remaining 49% stake in Zhejiang Jitong Dikong Construction Technology Co., Ltd. from Huzhou Jiumu Investment Partnership (Limited Partnership) and Huzhou Shengcheng Enterprise Management Partnership (Limited Partnership) for approximately CNY 340 million on December 6, 2021. After the completion of the equity transfer, Zhejiang Jitong will become a wholly-owned subsidiary of the company. Zhejiang Jitong Dikong Construction Technology reported total assets as approximately CNY 450 million and net assets as approximately CNY 300 million for the period end on June 30, 2021.

The transaction has been approved by the board of directors of Zhejiang Huatie Emergency Equipment. As of June 11, 2022, the counterparty purchased a total of 12,269,959 shares of the company's stock in the secondary market. The obligation of the counterparty to use the equity transfer funds to purchase the company's stock has been fulfilled.