Xiamen XGMA Machinery Company Limited (SHSE:600815) agreed to acquire Xiamen Xiagong Heavy Industry Steel Structure Co., Ltd. from Xiamen Xiagong Heavy Industry Co., Ltd. for CNY 37.7191 million on December 15, 2022. The equity transfer payment will be paid in two installments. The first payment is 40% of the total price (that is, CNY 15.0876 million). The payment date is: within 10 working days from the date of signing this agreement; the second payment is 60% of the price (that is, CNY 22.6315 million ), the payment date is within 10 working days from the date of completion of the industrial and commercial registration of this equity transfer. As of September 30, 2022, Xiamen Xiagong Heavy Industry Steel Structure Co., Ltd. reported Total Assets of CNY 60.4296 million, Net Assets of CNY 37.5152 million. Xiamen XGMA Machinery board approved the transaction.

Xiamen XGMA Machinery Company Limited (SHSE:600815) completed the acquisition of Xiamen Xiagong Heavy Industry Steel Structure Co., Ltd. from Xiamen Xiagong Heavy Industry Co., Ltd. on March 23, 2023.