Jiangsu Kuangshun Photosensitivity New-Material Stock Co., Ltd. (SZSE:300537) signed the cooperation framework agreement to acquire 60% stake in Chuangxing Fine Chemistry (Shanghai) Co., Ltd. from Changxing (China) Investment Co., Ltd. for CNY 12 million on July 10, 2017. The transaction will be funded by self-owned funds of Jiangsu Kuangshun Photosensitivity New-Material Stock Co., Ltd. For the year ended December 31 2016, Chuangxing Fine Chemistry (Shanghai) Co., Ltd. reported total assets of CNY 91 million, net liabilities of CNY 2.5 million, revenue of CNY 51.4 million, operating loss of CNY 9 million and net loss of CNY 9.2 million. The transaction is subject to approval from shareholders of Jiangsu Kuangshun Photosensitivity New-Material Stock Co., Ltd. The Board of Jiangsu Kuangshun Photosensitivity New-Material Stock Co., Ltd. approved the transaction. Jiangsu Kuangshun Photosensitivity New-Material Stock Co., Ltd. (SZSE:300537) completed the acquisition of 60% stake in Chuangxing Fine Chemistry (Shanghai) Co., Ltd. from Changxing (China) Investment Co., Ltd. on January 5, 2018.