NMTechnology is principally engaged in the sale and distribution of electronic components, especially integrated circuits and related products, through its subsidiaries in the PRC. The acquisition contemplated under the Share Purchase Agreement will allow the Group to cooperate with NM Group to diversify its customer base and achieve business The vertical integration and enlargement of the revenue sources for the Group's automatic meter reading business. This is conducive to the long-term growth and sustainable development of the Group as a whole, which will increase shareholder value in the long run.