Nanjing Focheng Technology Industry Co., Ltd signed a share transfer agreement to acquire 19% stake in Nanjing Borong Electronics Co., Ltd from NanJing AoLian AE&EA Co., Ltd. (SZSE:300585) for CNY 21.2 million on September 15, 2020. Under the terms of transaction, Nanjing Focheng Technology will pay CNY 8.5 million within 10 working days after the agreement signing and will pay CNY 8.5 million within 3 working days after the completion of the share transfer and will pay remaining CNY 4.2 million, ten days after completion of agreement. For the year ended December 31, 2019, Nanjing Borong Electronics had total assets, net assets, revenue, operating profit and net profit as CNY 12 million, CNY 13.9 million, CNY 0 million, CNY 0.14 and CNY 0.14 million respectively. Transaction has been approved in the 12th meeting of the NanJing AoLian held on September 15, 2020, and does not need the shareholders’ approval. Nanjing Focheng Technology Industry Co., Ltd completed the acquisition of 19% stake in Nanjing Borong Electronics Co., Ltd from NanJing AoLian AE&EA Co., Ltd. (SZSE:300585) on February 1, 2021.