SinoDaan Co., Ltd. (SZSE:300635) entered into an equity purchase agreement to acquire additional 6.59% stake in Fujian Hongmin Power Engineering Supervision Co., Ltd. from Lexian Junzhi Technology Promotion Partnership (Limited Partnership), Yan Jiaxiao, Chen Zhaomeng, Wang Jianming, Chen Junling and Luo Jun for CNY 17.4 million on January 13, 2019. The consideration shall be paid in cash. The consideration will be paid with own funds. Prior to the transaction, SinoDaan holds 60% stake in Fujian Hongmin Power Engineering. Upon completion, SinoDaan shall hold 66.59% stake in Fujian Hongmin Power Engineering. For the year ended December 31, 2018, Fujian Hongmin Power Engineering reported total assets of CNY 109.57 million, net assets of CNY 66.01 million, operating profit of CNY 30.13 million and operating revenue of CNY 93.27 million. The transaction was approved at the fourth meeting of the third directorate of SinoDaan on January 13, 2019. SinoDaan Co., Ltd. (SZSE:300635) completed the acquisition of acquire additional 6.59% stake in Fujian Hongmin Power Engineering Supervision Co., Ltd. from Lexian Junzhi Technology Promotion Partnership (Limited Partnership), Yan Jiaxiao, Chen Zhaomeng, Wang Jianming, Chen Junling and Luo Jun on January 29, 2019.