Jiangxi Guotai Group Co.,Ltd. (SHSE:603977) agreed to acquire 16.7815% stake in Beijing Togest Automation System Equipment Co., Ltd. from Liu Shengquan, Chen Jianyun, Liu Jing, Suqian Taige Yunchuang Enterprise Management Consulting Partnership (Limited Partnership), Wu Hui, Liu Shibing, Jiang Shilin, Hu Ying and Chen Qiulin for CNY 139.3 million on July 12, 2022. The consideration will be paid in cash. This transaction has been reviewed and approved at the 20th meeting of the fifth board of directors of Jiangxi Guotai Group Co. The transaction is subject to approval from government regulatory authorities. For the year ended December 31, 2021, Beijing Togest Automation System Equipment recorded operating income of CNY 298.7 million, net profit of CNY 88.9 million. As of December 31, 2021 total assets recorded were CNY 566 million and net assets were CNY 439.7 million.