Hareon Solar Technology Co., Ltd. (SHSE:600401) agreed to acquire additional 49% stake in Hareon Jingyuntong Solar Energy Industrial Investment (Taicang) Co., Ltd. from Beijing Jingyuntong Technology Co., Ltd (SHSE:601908) for approximately CNY 160 million in cash on November 7, 2014. Hareon Solar Technology Co., Ltd. will hold 85% stake in Hareon Jingyuntong Solar Energy Industrial Investment (Taicang) Co., Ltd. after completion of the transaction. Within 5 days after the contract becomes effective, Hareon Solar Technology will pay the transfer price in cash.

As of December 31, 2013, Hareon Jingyuntong Solar Energy Industrial Investment (Taicang) had total assets of CNY 348.4 million, total liabilities of CNY 17.96 million, and net assets of CNY 330.45 million, revenue of CNY 0 and net profit of CNY 17.84 million. The Board of Directors of Hareon Solar Technology Co., Ltd. approved the transaction. The transaction was approved by Board of Directors of Beijing Jingyuntong Technology on November 7, 2014.