Guangdong Senssun Weighing Apparatus Group Ltd. (SZSE:002870) agreed to acquire 12% stake in Ningbo Joyson Qunying Automotive Systems Co., Ltd. from Ningbo Joyson Electronic Corp for CNY 500 million on May 29, 2023. The transaction is subject to Guangdong Senssun Weighing Apparatus Group Ltd. approval. As of May 29, 2023 Guangdong Senssun Weighing Apparatus Group Ltd. board approved the deal. After the completion of this transaction, Guangdong Senssun Weighing Apparatus Group Ltd. will hold 63% of the equity of Joyson Qunying, and Joyson Qunying will still be the company's holding subsidiary. For the year ended December 31, 2022, Total Assets are CNY 5.3 billion, EBIT approximately CNY 320 million, Net Income approximately CNY 280 million, and Total Common Equity approximately CNY 2 billion. As of May 30, 2023, the transaction is subject to Guangdong Senssun Weighing Apparatus Group Ltd. shareholders approval. As of June 15, 2023, Shareholders has approved the acquisition. The first phase of the share transfer payment of CNY 306 million after the preconditions are met and within 3 working days after the target shares are delivered and transferred. The remaining payment of CNY 204 million is no later than June 30, 2024.