Zhejiang Chint Electrics Co., Ltd. (SHSE:601877) agreed to acquire 25% stake in Shanghai SIM-MAX Technology Co., Ltd for approximately CNY 50 million in cash on January 12, 2016. Zhejiang Chint will buy 25% stake in Shanghai SIM-MAX for CNY 50 million and will invest CNY 106.1 million in Shanghai SIM-MAX. As of May 31, 2015, Shanghai SIM-MAX Technology had total assets of CNY 34.46 million, total liabilities of CNY 28.58 million, net assets of CNY 5.88 million, operating revenues of CNY 2.61 million and net loss of CNY 3.09 million. Zhejiang Chint Electrics Co., Ltd. (SHSE:601877) cancelled the acquisition of 25% stake in Shanghai SIM-MAX Technology Co., Ltd on January 12, 2017.