Hunan Baili Engineering Sci&Tech Co.,Ltd (SHSE:603959) signed a letter of intent to acquire 60% stake in Suzhou Xiran Industrial Equipment Co., Ltd. from Wang Jingxu on February 19, 2021. The transaction will be paid in cash. The transaction is subject to due diligence results and was approved by the Board of Directors of Hunan Baili Engineering Sci&Tech Co.,Ltd.