Zhejiang Firstar Panel Technology Co., Ltd. (SZSE:300256) and Changzhou Chengjia Precision Manufacturing Co., Ltd. signed an agreement to acquire 81% stake in Dongguan JANUS Communication Technology Co., Ltd. from Guangdong JANUS Intelligent Group Corporation Limited (SZSE:300083) for CNY 72.9 million on August 28, 2019. As per the transaction, Zhejiang Firstar Panel Technology Co., Ltd. and Changzhou Chengjia Precision Manufacturing Co., Ltd will acquire 51% stake and 30% stake for CNY 45.9 million and CNY 27 million respectively. Dongguan JANUS Communication Technology Co., Ltd. reported total assets of CNY 0.12 million and net assets of CNY 0.11 million as at December 31, 2018.

Dongguan JANUS Communication Technology Co., Ltd. reported revenues of CNY 0, operating loss of CNY 0.09 million and net loss of CNY 0.09 million in 2018. The transaction has been approved by the Board of Directors of Guangdong JANUS Intelligent Group Corporation Limited on September 12, 2019 and its shareholders approval is not required. The matter falls within the approval jurisdiction at the management level of Zhejiang Firstar Panel Technology Co., Ltd. and does not need approval from the Board of Directors or shareholders.

On September 12, 2019, shareholders of Changzhou Chengjia Precision Manufacturing Co., Ltd. approved the acquisition of 30% stake in Dongguan JANUS Communication Technology Co., Ltd. matter.