AVIC Electromechanical Systems Co., Ltd. (SZSE:002013) agreed to acquire 26.8% stake in Saiwei Hangdian Technology Co., Ltd. from Chengdu Kaitian Electronics Co., Ltd. for approximately CNY 130 million on December 27, 2018. As per the terms, transactional price will be paid within 15 days since delivery of underlying equity in one single installment. As of December 31, 2017, Saiwei Hangdian Technology reported total assets of CNY 392.1 million, net assets of CNY 309.5 million, operating revenue of CNY 46.1 million and net profit of CNY 2.5 million.