What is the relationship between Nanrui and Borui?

Borui is a subsidiary of Nanrui. Changzhou borui automation co., ltd is a state-owned enterprise. Changzhou Borui is a wholly-owned subsidiary of Nanjing Nanrui Jibao Electric Co., Ltd. (100% holding), while Nanjing Nanrui is a subsidiary of Guodian Nanrui, which is one of the listed companies under the State Grid. Therefore, Changzhou Borui is actually the ultimate controlling shareholder of State Grid. Changzhou Borui Electric Power Automation Equipment Co., Ltd. is a subsidiary invested and constructed by Nanjing Nanrui Jibao Electric Co., Ltd. in Changzhou, covering an area of 90 mu and located in Qishuyan Economic Development Zone in the east of the city.