On August 13th, Shenzhen Senior Technology Material disclosed that it had entered into an equity transfer agreement with multiple transferors, with the aim of acquiring a 59.9806% equity stake in Basalt Electronic Technology (Yancheng) Co., Ltd. through a cash payment of 242 million yuan. Following the completion of this transaction, Shenzhen Senior Technology Material's ownership stake in Basalt Electronic will surge from 13.50% to 73.4806%, thereby transforming Basalt Electronic into its controlled subsidiary and leading to its inclusion in the consolidated financial statements of the publicly-listed company.