Suzhou Tianhong Laser Co., Ltd. (the "Tianhong Laser") announced in November that it purchased Wuhan Yi Fi Laser in the consideration of 230 million yuan, and by doing so it has accessed to the core technologies for the power batteries of new energy automobiles. This deal is the largest individual acquisition amongst the first batch of NEEQ listed enterprises in Suzhou Industrial Park (SIP).

Tianhong Laser (430549) is a supplier of intelligent industrial laser processing equipment, which is widely applied in the emerging industrial sectors, such as consumer electronics, automobile manufacturing and semiconductor fabrication.

The target company Wuhan Yi Fi Laser was founded in 2005, and was among the best of laser welding equipment manufacturers by the market share. Its original full-lead laser welding technology for power batteries and the full-automatic & whole-process production line greatly expand the application of the laser welding technology in the power battery manufacturing, which lays a physical foundation for solving the slow charging and slow speed-up of electric automobiles. The acquisition not only broadens the business scope of Tianhong Laser, strengthening its market competitiveness and profit-making capacity, but also allows the fast growth of its business scale with more extensive industrial influence.