Chongqing Zongshen Power Machinery Co.,Ltd (SZSE:001696) agreed to acquire 11.7647% stake in Chongqing Liangjiang New District Zongshen Microfinance Co., Ltd. from Chongqing Zongshen Motorcycle Industry Manufacturing Co., Ltd. for CNY 97.5 million on November 25, 2021. As on October 31, 2021, Chongqing Liangjiang New District Zongshen Microfinance Co., Ltd. generated total assets of CNY 1.4 billion and net assets of CNY 799.3 million. The transaction is approved by board of directors of Chongqing Zongshen Power Machinery Co.,Ltd.