Shenzhen Maxonic Automation Control Co., Ltd. (SZSE:300112) agreed to acquire a 20% stake in Wuxi KELK Apparatus & Valve Co., Ltd. from Wu Shijing, Hu Yimei, Ma Haifeng and KELK FLOW CONTROL LTD. for CNY 1 on January 11, 2019. Under the terms, Wu Shijing, Hu Yimei, Ma Haifeng and KELK FLOW CONTROL LTD. will respectively sell 11.27%, 1.54%, 0.59% and 6.6% stake. Payment will be done in one single installment within 30 days since signing of the agreement. Concurrently, Shenzhen Maxonic Automation Control Co., Ltd. agreed to invest CNY 10.7 million in Wuxi KELK Apparatus & Valve Co., Ltd. Post transactions, Shenzhen Maxonic Automation Control Co., Ltd., Wu Shijing, Hu Yimei, Ma Haifeng and KELK FLOW CONTROL LTD. will respectively own 20%, 45.1%, 6.2%, 2.4% and 26.4% stake in Wuxi KELK Apparatus & Valve Co., Ltd. As at August 31, 2018, Wuxi KELK Apparatus & Valve Co., Ltd. had total assets of CNY 97.6 million and net assets of CNY 35.9 million. The transaction was approved by the Board of Directors of Shenzhen Maxonic Automation Control Co., Ltd. on January 11, 2019.