Kinergy Ems (Nantong) Co., Ltd, Nantong CEL Intelligent Manufacturing Equity Investment and Nantong Guangguan Zhihe Enterprise Management won an open bid to acquire 7.99% stake in Jilin Jinguan Electric Co., Ltd. (SZSE:300510) from Qingdao CEL Intelligent Manufacturing Equity Investment for approximately CNY 110 million on December 20, 2019. Kinergy Ems (Nantong) Co., Ltd, Nantong CEL Intelligent Manufacturing Equity Investment and Nantong Guangguan Zhihe Enterprise Management entered into a share purchase agreement to acquire 7.75% stake in Jilin Jinguan Electric Co., Ltd. (SZSE:300510) on January 13, 2020. Under the terms of the transaction, Nantong Intelligent Fund will purchase 6.5 million shares for CNY 93.95 million, Kinergy EMS will purchase 1.249 million shares for CNY 18 million and Nantong Guangguan Zhihe will purchase 0.14 million shares for CNY 2 million. Kinergy intent to finance the transaction using its internal resources. Kinergy Ems (Nantong) Co., Ltd, Nantong CEL Intelligent Manufacturing Equity Investment and Nantong Guangguan Zhihe Enterprise Management completed the acquisition of 7.75% stake in Jilin Jinguan Electric Co., Ltd. (SZSE:300510) on January 13, 2020. Immediately following the Completion, Jinguan Electric is owned as to approximately 1.22%, approximately 6.39%, approximately 0.14%, approximately 0.30% and approximately 91.95% by Kinergy EMS, Nantong Intelligent Fund, Nantong Guangguan Zhihe, Ningbo Guangzhi Guanhe and 18 other shareholders of Jinguan Electric, respectively. On the completion date, the total sum of CNY 18.0 million was settled by Kinergy EMS in accordance with the share transfer agreement. As of January 13, 2020, all conditions were fulfilled for the acquisition of share purchase.