Ningbo Joyson Electronic Corp. (SHSE:600699) singed a Share Transfer Agreement to acquire a 8.03% stake in Guangdong Senssun Weighing Apparatus Group Ltd. (SZSE:002870) from Ningbo Ruigao Equity Investment Management Co., Ltd. Shanghai Ruizeng Enterprise Management Partnership Enterprise (Limited Partnership), Deng Jiehe, Cheng Tiesheng, and Gao Lufeng for approximately CNY 330 million on July 17, 2023. Under the terms, Ningbo Joyson Electronic will pay 20% consideration within 3 working days after the agreement, 30% within 3 working days after the Shenzhen Stock Exchange issues a confirmation opinion and 50% within 3 working days after the completion.

As part of the transaction, Ningbo Joyson Electronic will pay CNY 31 per share to acquire 10.6 million shares. Post completion, Ningbo Joyson Electronic will hold 8.03% stake, 4.28% stake by Deng Jiehe, 2% stake by Cheng Tiesheng, 4.68% stake by Gao Lufeng, whereas Shanghai Ruizeng Enterprise and Ningbo Ruigao Equity Investment will cease to have any stake in Guangdong Senssun Weighing. As of July 17, 2023, the transaction is approved by board of directors of Ningbo Joyson Electronic Corp.

As of March 31, 2023, Guangdong Senssun Weighing Apparatus Group Ltd generated total assets of CNY 7.4 billion and net assets of CNY 2.8 billion.