Ningbo Cixing Co.,Ltd. (SZSE:300307) agreed to acquire 35% stake in North GuangWei Technology INC from Northern Night Vision Technology Research Institute Group Co., Ltd. and Kunming Institute of Physics for approximately CNY 140 million on February 3, 2021. Ningbo Cixing Co.,Ltd. signed a property transaction contract for the acquisition on March 3, 2021. As per terms, Ningbo Cixing Co.,Ltd. will acquire 23.82% and 11.18% stake respectively from Northern Night Vision Technology Research Institute Group Co., Ltd. and Kunming Institute of Physics.

Ningbo Cixing Co.,Ltd. agrees to pay the entire transaction price in a lump sum within 3 working days after the Beijing Equity Exchange issuing the equity transaction certificate. The transaction was approved at the eighth meeting of the fourth board of directors and the first extraordinary general meeting of shareholders in 2021 on February 3, 2021 and February 19, 2021 respectively.