Shanghai Qiaoying Enterprise Management Center (Limited Partnership) signed a share transfer agreement to acquire 5% stake in Zhejiang Zhongjian Technology Co.,Ltd from Zhongjian Electromechanical Group Co., Ltd for approximately CNY 140 million.

ZHEJIANG ZHONGJIAN TECHNOLOGY CO., LTD. is a China-based company engaged in the research and development, design, manufacture and sale of garden machineries and portable digital generators. The Company's garden machineries include chain saws, hedge shearing machines, sitting type lawn mowers and brush cutters, among others, which are mainly used for landscaping planting, repairing and maintenance. The major generator product is portable digital generator, which is widely used for camping trips, family spare emergency powers, power communications equipment, precision instruments, commercial establishments, mobile construction and field operations, among others.