Zhejiang Sf Oilless Bearing Co.,Ltd. (SZSE:300817) signed acquisition intent agreement to acquire 80% stake in Zhejiang Bole Hydraulic Technology Co., Ltd. from group of shareholders for CNY 21.4 million on November 3, 2022. Xu Huiliang holds 83%, Xu Zifeng 10%, Lai Longcheng 6% and Ding Chenghe 1% in Zhejiang Bole Hydraulic Technology. Within 5 days after the effective date of the intent agreement, the company will pay deposit of CNY 2 million.

The deposit will be converted into part of the consideration payment for this transaction according to the agreement of the formal transaction contract. As of December 27, 2022, Zhejiang Sf Oilless Bearing has signed equity acquisition agreement with Xu Huiliang, Xu Zifeng, Lai Longcheng, Ding Chenghe and other investors Xiang Qin, Chen Jian, Ding Jianliang. The acquisition has approved by Zhejiang Sf Oilless Bearing's chairman of the board.

Zhejiang Bole Hydraulic Technology has reported net assets of CNY 11.15613 million and total assets of CNY 30.825578 million on October 31, 2022.