Range Technology Development Co., Ltd agreed to acquire Shanghai Precise Packaging Co., Ltd. (SZSE:300442) in a reverse merger acquisition on November 11, 2020. Under the terms of transaction, consideration will be paid by issue of share. The share issuance price for the issuance of shares to purchase assets is CNY 18.97 per share. Consideration will be financed from the financing of CNY 5 billion. Transaction is approved by the Board of Shanghai Precise Packaging Co., Ltd and is subject to their shareholder approval and shareholder approval of Range Technology. The Anti-Monopoly Bureau of the State Administration for Market Regulation need to pass the review of the concentration of undertakings involved in this transaction and the transaction needs to be approved by the Shenzhen Stock Exchange and submitted to the China Securities Regulatory Commission for registration. As of April 29, 2022, the Shenzhen Stock Exchange reviewed and approved the transaction. The shareholders of Shanghai Precise Packaging Co., Ltd. approved the transaction. The transaction was approved by the antitrust body. As of April 21, 2021, Shanghai Precise Packaging decided to issue 720.42 million in total. As of June 2, 2022, China Securities Regulatory Commission approval was received.

Jiang Kunjie, Chen Jia, Bian Jianguang, Wang Dejian and Bi Sheng of Huatai United Securities Co., Ltd., Zhao Qing, Wang Tao, Ding Jiangbo, Tang Yue and Zhu Litu of Guoyuan Securities Company Limited acted as financial advisors, Tang Zhoujun, Li Kefeng, and Wu Lintao of Zhong Lun Law Firm acted as legal advisors and Xiong Mingfeng, Wu Yuesong and Liu Yan of RSM China Certified Public Accountants Shenzhen Branch acted as accountant for Shanghai Precise Packaging Co., Ltd. in the transaction.