Chongqing Wangbian Electric (Group) Corp., Ltd. (SHSE:603191) agreed to acquire the remaining 40% stake in Qiannan Wangjiang Transformer Co., Ltd. from Qiannan Duneng Development Co., Ltd. for CNY 4.8 million on August 21, 2023. Qiannan Wangjiang Transformer Co., Ltd. reported total assets of CNY 189.26 million and net assets of CNY -4.72 million on June 2023.Chongqing Wangbian Electric (Group) Corp., Ltd. board approved the transaction. This transaction still needs to be approved by Qiannan Duneng?s internal authority.