Harbin VITI Electronics Co., Ltd. (SHSE:603023) signed an agreement to acquire Shanghai Feier Auto Parts Co., Ltd. from Shanghai Yuer Enterprise Management Partnership (Limited Partnership), Dongyang Xinyang Investment Management Co., Ltd., Lu Zhuxin, Lu Xianping, Du Jindong, Cai Yong and Lu Qiaozhen for approximately CNY 450 million on December 18, 2021. The consideration will be paid as share consideration of 28.6 million shares , convertible bond consideration of CNY 84.2 million with convertible bonds issued as 0.8418 million and cash consideration as approximately CNY 230 million. Harbin VITI Electronics plans to raise CNY 189 million in supporting funds from Nancheng Investment's non-public issuance of shares. The raised matching funds are intended to be used to pay the cash consideration of the transaction and intermediary agency fees. Issuance price for the shares issued in the PP will be CNY 3.31 per share. The total assets and owner's equity of Shanghai Feier Auto Parts Co. as of September 30, 2021, were CNY 760.56 million and CNY 310.53 million, respectively. The transaction needs to be approved by the board of directors of Harbin VITI Electronics as well as by the shareholders of Shanghai Feier Auto Parts and is subject to Lishui Economic Development Zone Management Committee and China Securities Regulatory Commission approval. Caitong Securities acted as financial advisor for Harbin VITI Electronics Co., Ltd.

Harbin VITI Electronics Co., Ltd. (SHSE:603023) cancelled the acquisition of Shanghai Feier Auto Parts Co., Ltd. from Shanghai Yuer Enterprise Management Partnership (Limited Partnership), Dongyang Xinyang Investment Management Co., Ltd., Lu Zhuxin, Lu Xianping, Du Jindong, Cai Yong and Lu Qiaozhen on June 17, 2022.