Jiangsu Boxin Investing&Holdings Co.,Ltd. (SHSE:600083) signed a letter of intent to acquire an unknown stake in Jiangxi Qianping Machinery Co., Ltd. from Wang Fei and Zhao Shunwei on June 25, 2021. Consideration will be paid in cash. In a related transaction, Jiangsu Boxin Investing&Holdings Co.,Ltd. will acquire a stake in Jiangxi Qianping Machinery Co., Ltd. by way of capital increase. Jiangsu Boxin Investing&Holdings Co.,Ltd. will acquire in total 51% stake in Jiangxi Qianping Machinery Co., Ltd. under both the transactions. Pre transaction, Wang Fei and Zhao Shunwei holds 91% stake and 9% stake in Jiangxi Qianping Machinery Co., Ltd., respectively.