Zhejiang Chenfeng Technology Co., Ltd. (SHSE:603685) agreed to acquire Liaoning Jinqilin New Energy Technology /Tongliao Jinqilin New Energy Intelligent Technology from Jinqilin New Energy Co., Ltd. on May 7, 2023. In related transaction Zhejiang Chenfeng Technology Co., Ltd. (SHSE:603685) also agreed to acquire Liaoning Guosheng Power Development Co., Ltd, Naiman Banner Guangxing Power Distribution Co., Ltd., Tongliao Wangtian New Energy Development Co., Ltd, Tongliao Guangxing Power Generation Co., Ltd. and Chifeng Dongshan New Energy Co., Ltd from Liaoning Huanuo New Energy Co., Ltd. and Guosheng Power Sales Co., Ltd. The total transaction amount shall not exceed 360 million yuan. The transaction was approved by Zhejiang Chenfeng Technology Co., Ltd first interim meeting of the third board of directors and third board of supervisors.

For the year ended, March 31, 2023, Liaoning Jinqilin New Energy Technology /Tongliao Jinqilin New Energy Intelligent Technology total asset is CNY 11254.75 million and net asset is CNY 57.33 million.