Zhonghe Co., Ltd. (SZSE:002070) agreed to acquire 20% stake in Shentong Electric Car Energy Management Co., Ltd. from Zhuhai Shentong Electric Car Energy Management Co., Ltd. for CNY 20 million on December 19, 2013. Zhonghe Co., Ltd. plans to use its own fund for the transaction. Board of Directors of Zhonghe Co., Ltd. unanimously approved the transaction on December 19, 2013.

The transaction does not need the approval of the Zhonghe's shareholders meeting.