Sichuan Yumingyao New Energy Co., Ltd signed an agreement to acquire 8.5% stake in Changzhou Shenli Electrical Machine Incorporated Company (SHSE:603819) from Suichuan Ruizhong Enterprise Management Service Center (Limited Partnership) and Pang Qinying for approximately CNY 260 million on June 6, 2022. As per the transaction, Sichuan Yumingyao New Energy Co., Ltd will acquire 18.5 million shares at CNY 14.07 per share. The consideration shall be payable in installments as agreed between the parties. In a related transaction, Sichuan Yumingyao New Energy Co., Ltd signed subscription agreement to acquire further stake in Changzhou Shenli Electrical Machine Incorporated Company. The transaction still needs confirmation from Shenzhen Stock Exchange. Post completion, Suichuan Ruizhong Enterprise Management Service Center (Limited Partnership) will hold no stake while Pang Qinying will hold 0.70% stake in Changzhou Shenli Electrical Machine Incorporated Company. The transaction is subject to regularity approval. As of August 2, 2022, Changzhou Shenli Electrical received the "Regarding the receipt of the "Letter of Decision on No Further Review of Anti-monopoly Review", decided that No further review will be carried out on the acquisition.