Chongqing Southwest Integrated Circuit Design Co., Ltd., Chongqing Zhongke Xinyida Electronics Co., Ltd. and Shenzhen Ruijing Industrial Co., Ltd. agreed to acquire majority stake in Tianjin Space Power Technology Co., Ltd and Tianjin Lishen Special Power Technology Co., Ltd. from CETC Energy Joint-Stock Co., Ltd. (SHSE:600877) on December 12, 2020. Transfer include sale of 100% of its shares in Tianjin Space Power Technology Co., Ltd. and 85% of Tianjin Lishen Special Power Technology Co., Ltd. and 45.39% of Chongqing Southwest Integrated Circuit Design, 51% of Chongqing Zhongke Xinyida Electronics and 49% of Shenzhen Ruijing Industrial as the assets to be acquire. The difference will be paid by the company in cash. Transaction is subject to customary closing conditions, including obtained the written consent of the minority shareholders of the target companies to waive the right of first refusal, approval in principle by the competent authority of state-owned assets supervision and management, approval by the National Defense Science and Industry Bureau. The transaction has been reviewed and approved at the 11th meeting of the 11th directorate of CETC Energy Joint-Stock Co., Ltd. As of February 9, 2021, shareholders of CETC Energy Joint-Stock Co., Ltd. approved the deal. Chongqing Southwest Integrated Circuit Design Co., Ltd., Chongqing Zhongke Xinyida Electronics Co., Ltd. and Shenzhen Ruijing Industrial Co., Ltd. completed the acquisition of majority stake in Tianjin Space Power Technology Co., Ltd and Tianjin Lishen Special Power Technology Co., Ltd. from CETC Energy Joint-Stock Co., Ltd. (SHSE:600877) in April 2021. As part of the transaction, CETC exchanged 100% of its shares in Tianjin Space Power Technology Co., Ltd. and 85% of Tianjin Lishen Special Power Technology Co., Ltd., priced at a total of CNY 795,757,100, with for Chongqing Southwest Integrated Circuit Design Co., Ltd.’s 45.39%, Chongqing Zhongke Xinyida Electronics Co., Ltd.’s 51%, and Shenzhen Ruijing Industrial Co., Ltd.’s 49% stakes, priced at CNY 841,678,700, and difference of CNY 45,921,500 in cash. Du Ximing and Kang Pan of China International Capital Corporation Limited (SEHK:3908) acted as financial advisors to CETC Energy Joint-Stock Co., Ltd. Huang Guobao and Huang Nuo of Jiayuan Law acted as the legal advisors and Lin Huaiyang and Hu Xiaoqin of ShineWing Certified Public Accountants Co., Ltd. acted as the accountants.