Sinomach Precision Industry Co.,Ltd. (SZSE:002046) agreed to acquire 8.84% stake in Chengdu Tool Research Institute Co., Ltd. from Shenzhen Huayue Real Estate Co., Ltd. and Sichuan Lixie Precision Technology Co., Ltd. for CNY 20.8 million on December 1, 2022. Sinomach Precision Industry will acquire 8.22% stake and 0.62% stake in Chengdu Tool from Shenzhen Huayue Real Estate and Sichuan Lixie Precision Technology, respectively. Chengdu Tool reported total assets of CNY 289.3 million, total liabilities of CNY 66.7 million and Owner's equity of CNY 222.7 million as of October 31, 2022 and revenue of CNY 138.6 million and net profit of CNY 11.2 million for the period ended December 31, 2021.

The 18th session of Sinomach Precision Industry's 7th directorate approved the transaction.