Chen Junhai signed an agreemnt to acquire Shenzhen Yinghuaxunfang Communications Technology Co., Ltd. from Shenzhen Kingsino Technology Co.,Ltd. (SZSE:002548) for approximately CNY 130 million on November 2, 2021. Shenzhen Yinghuaxunfang had total assets approximately CNY 230 million and total common equity as approximately CNY 130 million for the period end on September 30, 2021. Shenzhen Yinghua reported EBIT of CNY 55.7 million and net loss of CNY 20.8 million for the period end on December 31, 2020. The transaction has been approved by the board of directors of Shenzhen Kingsino Technology. Chen Junhai acquired Shenzhen Yinghuaxunfang Communications Technology Co., Ltd. from Shenzhen Kingsino Technology Co.,Ltd. (SZSE:002548) on November 25, 2021. Chen Junhai paid CNY 67.3 million to Shenzhen Kingsino Technology.