Nanjing Huamai Information Industry Group Co., Ltd. agreed to acquire 60% stake in Jiangsu Daokang Generator Sets Co.,Ltd. from Nanjing Huamai Technology Co., Ltd. (SHSE:603042) for approximately CNY 220 million on October 26, 2020. On November 27, 2020, Nanjing Huamai Information Industry Group Co., Ltd. signed an equity transfer agreement with Nanjing Huamai Technology. On November 30, 2020, Nanjing Huamai Technology received the first equity transfer payment of CNY 64.5 million from Nanjing Huamai Information Industry Group Co., Ltd. Recently, Nanjing Huamai Technology received the second equity transfer payment of CNY 43 million from Nanjing Huamai Information Industry Group Co., Ltd. In December 31, 2019, Jiangsu Daokang Generator Sets Co.,Ltd. reported a total assets of CNY 200 million, total common equity of CNY 162 million, total revenues of CNY 191 million and net income of 38.9 million. The transaction was approved by the Board of Directors of Nanjing Huamai Technology Co., Ltd. The transaction was approved at the second extraordinary shareholders meeting of 2020 on November 13, 2020.