Hangzhou Jizhi Mechatronic Co., Ltd. (SZSE:300553) agreed to acquire an additional 15% stake in Shanghai HENGWANG Intelligent Technology Co., Ltd. from Zhou Qilin and Guo Dan for CNY 0 on April 8, 2020. Hangzhou Jizhi Mechatronic shall acquire 150 shares each from Zhou Qilin and Guo Dan. Presently, Hangzhou Jizhi Mechatronic holds 40% stake and Zhou Qilin and Guo Dan each hold 30% stake in Shanghai HENGWANG Intelligent Technology, respectively. Post completion of the transaction and related transaction, Hangzhou Jizhi Mechatronic shall hold 85% stake in Shanghai HENGWANG Intelligent Technology. In the related transaction, Hangzhou Jizhi Mechatronic shall carry out Shanghai HENGWANG Intelligent Technology’s capital increase. For the period ended December 31, 2019, Shanghai HENGWANG Intelligent Technology reported total assets of CNY 9.8 million, net liabilities of CNY 4.4 million, revenue of CNY 7.5 million and net loss of CNY 4.4 million. This transaction has been approved in the 11th Meeting of Hangzhou Jizhi Mechatronic’s 3rd Directorate held on April 8, 2020. The transaction does not require shareholder approval of Hangzhou Jizhi Mechatronic Co., Ltd. Hangzhou Jizhi Mechatronic Co., Ltd. (SZSE:300553) cancelled the acquisition of 15% stake in Shanghai HENGWANG Intelligent Technology Co., Ltd. from Zhou Qilin and Guo Dan April 8, 2021.