Jiaoxin Xinfa (Jiaxing) Equity Investment Partnership Enterprise (L.P.) agreed to acquire 8.66% stake in Transportation Telecommunication & Information Development Inc.Ltd.Zhejiang (SZSE:300469) from Shanghai Zhongxin Electronic Development Co., Ltd. and Zhang Shuhua for CNY 210 million on June 18, 2024. The consideration will be paid at a price of CNY 9.88 per share. A cash consideration of CNY 95.59 million will be paid by Jiaoxin Xinfa (Jiaxing) Equity Investment Partnership Enterprise (L.P.). Jiaoxin Xinfa (Jiaxing) Equity Investment Partnership Enterprise (L.P.) will pay an earnout/contingent payment of CNY 116.83 million cash. As part of consideration, CNY 212.42 million is paid towards common equity of Transportation Telecommunication & Information Development Inc.Ltd.Zhejiang.

The transaction is subject to approval by regulatory board / committee.