Jiangsu Hagong Intelligent Robot Co., Ltd. (SZSE:000584) agreed to acquire a 49% stake in Suzhou HIT Yike Robot Co., Ltd. from SIT Industrial Robot Co., Ltd. for CNY 14.7 million on December 11, 2017. For the year ended December 31, 2016, Suzhou HIT Yike Robot had revenue of CNY 4.16 million, net loss of CNY 2.5 million, total assets of CNY 13.5 million and net assets of CNY 10.3 million. The transaction is subject to the approval of the shareholders of Jiangsu Hagong Intelligent Robot Co., Ltd. and was approved by its Board of Directors in the 15th meeting of 10th directorate held on December 11, 2017. On December 27, 2017, the transaction was approved by the shareholders of Jiangsu Hagong Intelligent Robot Co., Ltd. Jiangsu Hagong Intelligent Robot Co., Ltd. (SZSE:000584) completed the acquisition of a 49% stake in Suzhou HIT Yike Robot Co., Ltd. from SIT Industrial Robot Co., Ltd. on January 11, 2018.