Zhejiang Baida Precision Manufacturing Corp. (SHSE:603331) agreed to acquire 30% stake in Jiangxi Baida Precision Manufacturing Co., Ltd. from Rechi Holdings Co.,Ltd. for CNY 83.2 million on April 17, 2023. The board resolution date is April 17, 2023.

The transaction is approved by board of Zhejiang Baida Precision Manufacturing Corp. and is subject to approval by shareholders of Zhejiang Baida Precision Manufacturing Corp. As of February 28, 2023, Total Assets were of CNY 327 million and Net Assets were of CNY 246 million.

As of May 4, 2023, shareholders of Zhejiang Baida Precision Manufacturing Corp. approved the transaction.