Hangzhou Lion Electronics Co.,Ltd (SHSE:605358) agreed to acquire remaining 13.36% stake in JRH Technology (Quzhou) Co., Ltd. from Quzhou Lvfa Angrui Investment Partnership Enterprise (Limited Partnership) for approximately CNY 116 million on December 15, 2022. As of September 30, 2022, the total assets of the JRH Technology (Quzhou) are CNY 3.3834596 billion, the net assets are 1.290 billion. Hangzhou Lion Electronics Co.,Ltd board approved the transaction.

JRH Technology (Quzhou) Co., Ltd recently completed the relevant business registration and "Articles of Association" filing procedures, and obtained the "Business License" renewed by the Quzhou Municipal Market Supervision Administration.