Jin Weiping, General Manager of Shanghai Xinba Automation Technology Co., Ltd., signed an equity transfer agreement to acquire an additional 26% stake in Shanghai Xinba Automation Technology Co., Ltd. from Shanghai YongLi Belting Co., Ltd (SZSE:300230) for CNY 15.6 million on November 27, 2017. The consideration is payable within 60 days since the signing of the agreement. Post completion, Jin Weiping’s stake in Shanghai Xinba Automation Technology Co., Ltd. will increase from 46.55% to 72.55%. The stake of Shanghai YongLi Belting Co., Ltd. in Shanghai Xinba Automation Technology Co., Ltd. will decrease from 51% to 25%. The transaction was approved by the 22nd session of the 3rd meeting of the Board of Directors of Shanghai YongLi Belting Co., Ltd on November 27, 2017. Jin Weiping, General Manager of Shanghai Xinba Automation Technology Co., Ltd., completed the acquisition of an additional 26% stake in Shanghai Xinba Automation Technology Co., Ltd. from Shanghai YongLi Belting Co., Ltd (SZSE:300230) on January 4, 2018.