Changzhou Fusion New Material Co., Ltd. acquired a 69.36% stake in Jiangsu Lianyin New Materials Co., Ltd. from Dalian Linton NC Machine Co., Ltd. for CNY 120 million recently. For the period ended December 31, 2022, Jiangsu Lianyin had CNY 94.48 million of total assets, CNY 83.75 million of net assets, CNY 34.63 million of revenue and CNY -20.51 mullion of net profit.