Zhitong Financial APP, Jiawei Xineng (300317.SZ) announced that Jiawei (Shanghai) Photovoltaic Power Co., Ltd. ("Shanghai Jiawei"), a wholly owned subsidiary of the company, intends to sign an equity transfer agreement with Jiangsu Zhenfa New Energy Technology Development Co., Ltd. ("Zhenfa Technology"). Shanghai Jiawei agreed to buy 49% of Huocheng Tucai New Energy Technology Development Co., Ltd. ("Tucai New Energy" or "target company") at a price of 60 million yuan.

At the same time, Shanghai Jiawei, Zhenfa Technology and related parties signed a "quadripartite agreement", stipulating that after Shanghai Jiawei paid 36 million yuan directly to the supplier of Zhenfa Technology, the payment obligation of 36 million yuan of equity transfer was completed. Shanghai Jiawei and Zhenfa Technology signed the Credit and debt set-off Agreement, and the remaining 24 million yuan in the equity transfer will be used to offset the accounts receivable of the company and its subsidiaries to Zhenfa Technology and its related parties. Shanghai Jiawei does not have to pay cash separately.