Shanghai East-China Computer Co.,Ltd. (SHSE:600850) signed the major Asset Reorganization Intention Agreement to acquire 99.76% stake in Xiamen Yaxon Network Co.,Ltd. from a group of shareholders on March 5, 2021. Sellers Include, CETC Digital Technology (Group) Co., Ltd., CETC Investment Holdings Co.,Ltd., Xiamen King Long Motor Group Co., Ltd., Xiamen Torch Group Co., Ltd., China Railway No. 5 Engineering Group Co., Ltd., Wenzhou Zhenrui Investment Partnership Enterprise (Limited Partnership), Huang Yongqing and 75 other individuals. Shanghai East-China Computer will issue A shares to CETC Investment, CETC Finance to raise supporting funds of not more than CNY 500 million to fund the transaction. Acquisition will be through the issuance of shares and cash payment. Before the transaction, CETC Digital Technology (Group) Co., Ltd holds 26.02% of Yaxon Networks, CETC Investment Holdings Co., Ltd. holds 25% of Yaxon's shares. The transaction still needs to be reviewed by the Shanghai East-China Computer Co.,Ltd. board of directors and shareholders' meeting, and needs to be approved by the competent regulatory authority including Antimonopoly bureau of State Administration for Market Regulation. As of March 19, 2021, board of directors of Shanghai East-China Computer approved the transaction.

Shanghai East-China Computer Co.,Ltd. (SHSE:600850) cancelled the acquisition of 99.76% stake in Xiamen Yaxon Network Co.,Ltd. from a group of shareholders on June 8, 2021.