Aotecar New Energy Technology Co., Ltd (SZSE:002239) signed an agreement to acquire 20% stake in Changzhou Radio Factory Co., Ltd from Xinyu Tianyun Investment Management Center (Limited Partnership) for CNY 60 million on January 4, 2016. After the transaction, Aotecar New Energy Technology will hold 20% stake in Changzhou Radio Factory. Aotecar New Energy Technology will use self-owned funds of CNY 60 million to acquire 20% stake. Changzhou Radio Factory Co., Ltd reported total assets of CNY 144.74 million, total liabilities of CNY 114.95 million, owner’s equity of CNY 29.79 million, revenues of CNY 70.39 million, total profit of CNY 12.08 million and net profit of CNY 10.26 million in 2015. The Board of Aotecar New Energy Technology approved the transaction on January 4, 2016. Aotecar New Energy Technology Co., Ltd (SZSE:002239) cancelled the acquisition of 20% stake in Changzhou Radio Factory Co., Ltd from Xinyu Tianyun Investment Management Center (Limited Partnership) on January 4, 2017.