Zhejiang Aishida Electric Co., Ltd (SZSE:002403) agreed to acquire an additional 39% stake in Zhejiang Qianjiang robot Co., Ltd. from Zhejiang Qianjiang Motorcycle Co., Ltd. (SZSE:000913) for approximately CNY 140 million on April 30, 2019. On completion, Zhejiang Aishida Electric will hold 90% stake in Zhejiang Qianjiang robot. For the year ending December 31, 2018, Zhejiang Qianjiang robot Co had revenues of CNY 154.5 million, operating loss of CNY 40.5 million and net loss of CNY 33.7 million.

As of December 31, 2018, Zhejiang Qianjiang robot Co had total assets of CNY 253.9 million and net assets of CNY 43.5 million. Transaction is under the purview of Zhejiang Aishida Electric's Directors, and does not need the Directorate's approval.