Group 1 - The company announced the acquisition of 2 million shares of Jiangsu Shentong, representing approximately 0.39% of the total issued shares, for a total consideration of approximately RMB 30.91 million (around HKD 34.20 million) at an average price of RMB 15.46 per share [1] - Following the acquisition, the company will hold a total of 9,003,500 shares of Jiangsu Shentong, which accounts for approximately 1.77% of the total issued shares [1] - Jiangsu Shentong is a key supplier of valves and maintenance services for the company, having developed a 5G IoT-based valve management system to optimize maintenance plans and reduce inventory levels [2] Group 2 - The acquisition is characterized as a vertical acquisition of minority equity, aimed at strengthening the existing business relationship between the company and Jiangsu Shentong, and is expected to facilitate deeper cooperation and future strategic initiatives [2] - Jiangsu Shentong has shown robust growth over the past three years, with revenue and net profit attributable to shareholders increasing by approximately 9.6% and 29.6%, respectively, in 2024 compared to 2022 [2] - The investment in Jiangsu Shentong may yield financial benefits, including potential capital appreciation and dividends, with a notable increase in dividend payouts from RMB 0.5 per 10 shares in 2022 to RMB 1.75 per 10 shares in 2024 [3]