Zhejiang Yueling Co., Ltd. (SZSE:002725) agreed to acquire additional 20.8% stake in FuJian Z.K. Litecore, Ltd. from Huai'an Xinkun Equity Investment Partnership (Limited Partnership), Z.K. Litecore Optoelectronic Technology (Huai'an) Co., Ltd. and Liu Sheng for CNY 43.2 million on May 27, 2019. Liu Sheng will be transferring 8.47% stake in FuJian Z.K. Litecore, Ltd. for CNY 17.6 million. Huai'an Xinkun Equity Investment Partnership (Limited Partnership) will be transferring a 4.62% stake in FuJian Z.K. Litecore, Ltd. for CNY 9.6 million. Z.K. Litecore Optoelectronic Technology (Huai'an) Co., Ltd. will be transferring a 7.7% stake in FuJian Z.K. Litecore, Ltd. for CNY 16 million. Payment to Liu Sheng and Huai'an Xinkun Equity Investment Partnership (Limited Partnership) will be made in one single installment within 7 days since the present equity change application procedure is submitted to the Fujian Provincial Market Supervision Administration. Payment to Z.K. Litecore Optoelectronic Technology (Huai'an) Co., Ltd. will be made in one single installment within 30 days since the present equity change application procedure is submitted to the Fujian Provincial Market Supervision Administration. Post completion Zhejiang Yueling Co., Ltd. will hold 36.19% stake in FuJian Z.K. Litecore, Ltd. As of December 31, 2018, FuJian Z.K. Litecore, Ltd. reported total assets of CNY 74 million, net assets of CNY 50.6 million, operating revenue of CNY 35.3 million, operating loss of CNY 10.7 million and net loss of CNY 9.7 million. Transaction is approved by the Board of Directors of Zhejiang Yueling Co., Ltd. Zhejiang Yueling Co., Ltd. (SZSE:002725) cancelled the acquisition of additional 20.8% stake in FuJian Z.K. Litecore, Ltd. from Huai'an Xinkun Equity Investment Partnership (Limited Partnership), Z.K. Litecore Optoelectronic Technology (Huai'an) Co., Ltd. and Liu Sheng on May 27, 2020.