Hangzhou Zhongya Machinery Co., Ltd. (SZSE:300512) signed a share transfer agreement to acquire an additional 8% stake in Hangzhou Maijiesi IoT Technology Co., Ltd. from Tao Jin and Jin Xiaozheng for CNY 0 on January 2, 2019. Tao Jin and Jin Xiaozheng will sell unpaid registered capital amounting to 4% stake each. Upon completion, Hangzhou Zhongya Machinery Co., Ltd.'s stake will increase from 51% to 59%. Tao Jin's stake will decrease from 30% to 26% and Jin Xiaozheng's stake will decrease from 19% to 15%. In a related transaction, Wang Jieming signed capital increase agreement with Hangzhou Zhongya Machinery Co., Ltd., Tao Jin, and Jin Xiaozheng, agreeing to carry out Hangzhou Maijiesi IoT Technology Co., Ltd.’s capital increase of CNY 0.3 million. As of November 30, 2018, Hangzhou Maijiesi IoT Technology Co., Ltd. reported total assets of CNY 0.5 million and net assets of CNY 0.3 million. The transaction is subject to approval of Directorates of Hangzhou Zhongya Machinery Co., Ltd. and does not need the shareholders’ approval.