Baoding Technology Co., Ltd. (SZSE:002552) intends to acquire a 63.87% stake in Shandong Jinbao Electronics Co., Ltd. from a group of sellers for CNY 1.5 billion on October 12, 2021. The number of shares to be issued for this acquisition as payment is 102,689,322 shares. Baoding Technology will issue CNY common A shares to Zhaojin Group's wholly-owned subsidiary Zhaojin Non-ferrous Mining Co., Ltd. at an issue price of CNY11.24 per share for proceeds of not more than CNY 300 million. The consideration will paid by issue shares of Baoding Technology and will be finalize after the evaluation and audit of Shandong Jinbao. This transaction is approved by the board of directors and board of supervisors of Shandong Jinbao, Zhaojin Group, the controlling shareholder Shandong Jinbao and the State-owned Assets Supervision and Administration Commission of Yantai City. As of August 10, 2022, CSRC approved the transaction. The transaction remain subject to formal plan of the transaction, board of directors, board of supervisors and shareholders of Baoding Technology again approve the formal plan, state-owned assets supervision and administration department approved the formal plan and China Securities Regulatory Commission approve the transaction. As of March 31, 2022, Baoding Technology Co., Ltd. reported Total assets of CNY 3682 million and Total owner's equity of 1098 million. CITIC Securities Company Limited (SHSE:600030) acted as financial advisor, Grandway Law Offices acted as legal advisor and Jonten Certified Public Accountants Co Ltd acted as accountant to Baoding Technology Co., Ltd.

Baoding Technology Co., Ltd. (SZSE:002552) completed the acquisition of 63.87% stake in Shandong Jinbao Electronics Co., Ltd. from a group of sellers on August 31, 2022.