Shenzhen Kexin Communication Technologies Co.,Ltd (SZSE:300565) entered into an agreement to acquire additional 10% stake in Guangdong Kexin Juli New Energy Co., Ltd. from Shenzhen Xinshengda Investment Partnership Enterprise (Limited Partnership) for CNY 1 on July 11, 2022. The transaction has been approved by board of directors of Shenzhen Kexin Communication Technologies. The transaction is subject to approval from acquirer shareholders.

As on July 27, 2022, Shenzhen Kexin's shareholders have approved the transaction. Guangdong Kexin Juli New Energy recorded total assets of 11.4 million and net liabilities of 3.4 million as of December 31, 2021