Beijing Beetech Inc. (300667.SZ) announced on September 2 that, in order to improve the company's industry layout and enhance its overall competitiveness, the company signed an "Intention Agreement for Equity Investment" with Beijing Chuan Sheng Veina Technology Co., Ltd. (hereinafter referred to as "Chuan Sheng Veina" or the "target company") and its actual controller, Zhou Zhenghua, on September 2, 2024.

According to the "Equity Investment Intention Agreement," the company plans to acquire the control of the target company in two steps. In the first step, the company plans to acquire approximately 10% of the equity of the target company through capital increase within 2024. After this transaction is completed, the target company will become a partly owned subsidiary of the company, and the transaction is expected to not constitute a major asset restructuring as defined by the "Reorganization Management Measures." In the second step, the company plans to further acquire approximately 55% of the equity of the target company through the issuance of shares and payment of cash on the basis of the target company's 2024 performance commitment, completed within 2025. After this transaction is completed, the target company will become a wholly-owned subsidiary of the company.

This equity investment will help enrich the company's products and services in the research and advanced manufacturing field, and strengthen its layout in the areas of semiconductors, optoelectronic devices, aviation and aerospace.