Zhejiang Rongtai completes acquisition of 15% stake in Guangdong Jinli Transmission

Zhejiang Rongtai Electrical Equipment Co., Ltd. announced that the acquisition of 15% of the shares of Guangdong Jinli Intelligent Transmission Technology Co., Ltd. has made progress. Earlier, the company implemented the acquisition through capital increase and share transfer: it subscribed for 100.659720 million yuan of Jinli Transmission at a price of 27.03 yuan per share, adding 3.724 million yuan to the registered capital, and acquired 7.373 million shares of Jinli Transmission for 199.33643 million yuan. Recently, Jinli Transmission shareholders' meeting approved the capital increase proposal, completed the industrial and commercial change registration, Zhejiang Rongtai has paid the relevant amount and completed the share delivery, officially obtaining 15% of Jinli Transmission's shares and corresponding rights and interests.