Zhongjian Electromechanical Group Co., Ltd. agreed to acquire Shanghai Puzhirun Food Technology Co., Ltd. from Zhejiang Zhongjian Technology Co.,Ltd (SZSE:002779) for CNY 41.7 million on April 26, 2024. The consideration consists of CNY 41.7 million in cash. As part of the consideration, CNY 41.7 million was paid towards common equity.

The consideration will be paid in four installments. Shanghai Puzhirun Food Technology Co., Ltd. reported the total assets worth of CNY 38 million, total common equity of CNY 37.5 million, total revenue of CNY 0.07 million and net loss of CNY 6.07 million as of December 31, 2023. This transaction has obtained the consent of other competent government agencies (including but not limited to securities regulatory agencies and stock exchanges) in accordance with the law (if necessary).

Board of directors and shareholders of Zhejiang Zhongjian Technology Co.,Ltd approves the deal. The deal is subject to the approval by the shareholders of Zhongjian Electromechanical Group Co., Ltd.