Beijing Jingcheng Machinery Electric Company Limited (SEHK:187) signed an assets framework agreement to acquire Beiren Intelligent Equipment Technology Co., Ltd. from Beijing Jingcheng Machinery Electric Holding Co., Ltd. for approximately CNY 420 million on November 16, 2022. This has been approved in the 19th Extraordinary Meeting of the Company's 10th Directorate, and after the completion of the audit and assessment work, the parties will sign an official agreement, and the Company will hold Directorate and Shareholders meetings.