Hi-Target Navigation Tech Co.,Ltd (SZSE:300177) signed an equity transfer agreement to acquire the remaining 27.5% stake in Jiangsu Hi-Target Ocean Information Technology Co., Ltd. from Li Hongjiang, Luo Yu, and Shi Jian. for CNY 45.37 million on March 24, 2023. Hi-Target Navigation Tech Co.,Ltd board approved the transaction.

Among them, the company will acquire 11.7857% of the equity of Jiangsu Hi-Target Ocean Information Technology Co., Ltd. held by Li Hongjiang for 19.446405 million; the company will acquire 11% held by Luo Yu for CNY 18.15 million, the company will acquire 4.7143% for CNY 7.78 million. AS of September 30, 2022, Jiangsu Hi-Target Ocean Information Technology reported total assets of CNY 144.69 million and net assets of CNY 98.45 million.