Wuxi Hodgen Technology Co., Ltd. (SZSE:300279) agreed to acquire 31.08% stake in Wuxi Hodgen Smart Technology Co., Ltd. from Anhui High-tech Investment New Material Industry Fund Partnership (Limited Partnership), managed by Anhui Longhuahui Equity investment Management Enterprise (LP), Huaibei Shengda Construction Investment Co., Ltd., Huaibei Growth SME Fund Management Co., Ltd., managed by Anhui Province Venture Capital Co., Ltd. for approximately CNY 260 million on March 29, 2022. Wuxi Hodgen Technology Co., Ltd. will carry out a private placement to raise matching funds of not more than 50 million yuan from a non-public offering of shares to not more than 35 specific subscribers. Transaction is subject to conditions such as, The transaction needs to be reviewed and approved by the shareholders meeting of the target company, Hodgen Technology will hold a general meeting of shareholders to consider and approve the relevant resolutions of the transaction, Huaibei Shanda Construction Investment needs to obtain the approval of the transaction issued by its competent state-owned assets department and Approval by Shenzhen Stock Exchange and reported to China Securities Regulatory Commission for registration decision is pending. As of June 13, 2022, Wuxi Hodgen Technology will acquire Wuxi Hodgen Smart Technology Co., Ltd.'s for CNY 259.2543 million, and the Wuxi Hodgen Technology will issue 41.6138 million shares. On May 18, 2022, Wuxi Hodgen Technology held the 6th Meeting of the 5th Directorate, and approved the above. Wuxi Hodgen Technology will raise supporting funds of not more than CNY 47.5 million and Anhui High-tech Investment New Material Industry Fund Partnership (Limited Partnership) will subscribe to CNY 30 million-47.5 million of the issuance. As on November 17, 2022, The issue of shares to purchase assets and supporting fundraising of Wuxi Hodgen Technology has been approved by the Listing Review Center of the Shenzhen Stock Exchange on November 17, 2022. As on November 21, 2022, Wuxi Hodgen Technology has signed an agreement on Issuing Shares to Purchase Assets on March 31, 2022. Wuxi Hodgen Technology has signed Supplementary Agreement to the Assets Purchase Agreement by Issuing Shares. The shareholders of Wuxi Hodgen Technology has approved the transaction in 1st special shareholders' meeting held on June 21, 2022. On December 13, 2022, China Securities Regulatory Commission approved the transaction.

Zhao Guanqun, Wang Yuhui, Peng You of Orient Securities Investment Banking Co., Ltd. acted as a financial advisor, Bu Dehong, Ma Quan, Wang Yulong of Tiantai Law Firm acted as legal advisor and Liu Darong, Liu Na of Zhongxi CPAs (Special General Partnership) acted as an accountant to Wuxi Hodgen Technology Co., Ltd.