AVIC Electromechanical Systems Co., Ltd. (SZSE:002013) agreed to acquire ALI-Jiatai Hong Kong Investment Co., Limited from Hubei ALI-Jiatai Aircraft Equipment Co., Ltd. on August 18, 2017. The share transfer price will be determined on the basis of the assessment results issued by a qualified asset appraisal institution with filing record with the State-owned Assets Supervision and Administration Commission department. AVIC Electromechanical Systems Co., Ltd. will use its own funds to acquire the stake. ALI-Jiatai Hong Kong Investment Co., Limited's asset assessment report is subject to filing with the State-owned Assets Supervision and Administration Commission department. ALI-Jiatai Hong Kong Investment Co., Limited reported total assets of CNY 0.13 million, net assets of CNY 0.13 million, operating loss of CNY 3.4 million and net loss of CNY 3.4 million in 2016. On August 18, 2017, the Board of AVIC Electromechanical Systems Co., Ltd. approved the transaction. AVIC Electromechanical Systems Co., Ltd. (SZSE:002013) cancelled the acquisition to acquire ALI-Jiatai Hong Kong Investment Co., Limited from Hubei ALI-Jiatai Aircraft Equipment Co., Ltd. on August 18, 2018.