Changzhou Architectural Research Institute Group Co.,Ltd (SZSE:301115) agreed to acquire 55% stake in Global-Standard (Shanghai) Testing Technology Co., Ltd. from Luo Liqiong and Ning Wentao for CNY82.5 million on October 11, 2023. This was approved on the Company?s 4th meeting of the 5th board of directors and 4th meeting of the 5th board of supervisors held on October 11, 2023. Changzhou Architectural Research Institute Group Co., Ltd. planned to utilize a portion of excess raised funds for this acquisition.