Shandong Sinocera Functional Material Co., Ltd. (SZSE:300285) agreed to acquire Saichuang Electric (Tongling) Co., Ltd. from a group of shareholders for approximately CNY 400 million on October 26, 2022. As of August 31, 2022, Saichuang Electric (Tongling) Co., Ltd. generated total assets of CNY 122.9991 million and net assets of CNY 56.1737 million. The transaction is approved by board of directors of Shandong Sinocera Functional Material Co., Ltd. (SZSE:300285).