Beijing Huaqilin Technology Center (Limited Partnership) agree to acquire 15% stake in in Star UAV System Co., Ltd from Ligeance Aerospace Technology Co.,Ltd. (SZSE:000697) for CNY 450 million on December 14, 2020. Post completion, Beijing Huaqilin Technology and Ligeance Aerospace will hold 15% each in Star UAV. As of September 30, 2020, Star UAV had total assets and net assets as CNY 162 million and CNY 153.6 million. For year ended December 31, 2019, Star UAV had revenue and net loss as CNY 0 million and CNY 7.1 million. This transaction was approved by Ligeance Aerospace Technology board and Star UAV's shareholders' meeting. This transaction was approved by Huaqilin's partners' meeting. Transaction still needs to be approved by the Ligeance Aerospace shareholders' meeting This asset transfer will be reviewed in the company's 3rd special shareholders' meeting for 2020 to be held on December 30, 2020.

Beijing Huaqilin Technology Center (Limited Partnership) completed the acquisition of 15% stake in in Star UAV System Co., Ltd from Ligeance Aerospace Technology Co.,Ltd. (SZSE:000697) on December 29, 2020.