Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) signed a share transfer agreement to acquire additional 3.2% stake in Shanghai Xinsheng Semiconductor Technology Co., Ltd. from Shanghai Haoxin Investment Management Co., Ltd. for CNY 25 million on August 18, 2017. The transfer price is zero but Shanghai Sinyang Semiconductor Materials Co., Ltd. will pay the investment obligation of Shanghai Haoxin Investment Management Co., Ltd. of CNY 25 million, which is the unpaid subscribed investment in Shanghai Xinsheng Semiconductor Technology Co., Ltd., directly to Shanghai Xinsheng Semiconductor Technology Co., Ltd. For the year ended December 31, 2016, Shanghai Xinsheng Semiconductor Technology Co., Ltd. reported total assets of CNY 1.3 billion, net assets of CNY 504.9 million, operating loss of CNY 40.2 million and net loss of CNY 11.9 million. The Board of Directors of Shanghai Sinyang Semiconductor Materials Co., Ltd. approved the deal. Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) completed acquisition of additional 3.2% stake in Shanghai Xinsheng Semiconductor Technology Co., Ltd. from Shanghai Haoxin Investment Management Co., Ltd. on January 2, 2018.