Huang Yuan agreed to acquire an additional 51% stake in Suzhou Speed Communication Technology Co., Ltd. from Huizhou Speed Wireless Technology Co.,Ltd. (SZSE:300322) for approximately CNY 43 million on April 1, 2022. In the first phase, within 3 working days from the date of signing this agreement, Huang Yuan shall pay CNY 3 million to Huizhou Speed Wireless Technology as the deposit for this transaction, and the deposit will be automatically converted into the first phase of equity transfer after the agreement takes effect; , within 7 working days from the effective date of this agreement, Huang Yuan will pay transferor the second installment of CNY 15 million; the third installment, within 15 working days after the completion of the industrial and commercial change of the equity, Huang Yuan will pay the remaining consideration. Post completion, Huang Yuan will hold 80% of Speed Communication Technology and the remaining 20% stake will retained by Zhao Xingmei.

For the Year ended December 31, 2022, Suzhou Speed Communication Technology had approximately CNY 71.35 million in total assets, CNY 32.04 million of total common equity, CNY 6.95 million of EBIT and CNY 6.32 million of net income.