Shenzhen Taimin Electronics Co., Ltd. agreed to acquire 29% stake in Shenzhen East-Win Technology Co.,Ltd. from Jinlong Machinery & Electronic Co.,Ltd (SZSE:300032) for approximately CNY 120 million on January 26, 2024. Under the terms, within 3 working days from the agreement signing date, Shenzhen Taimin Electronics will pay the full amount. As of November, 2023, Shenzhen East-Win Technology reported Net Asset 421.46 million and Total Assets of CNY 661.57 million.

The transaction is approved by the board of Jinlong Machinery & Electronic and does not need the Shareholders? approval.