Beijing Originwater Technology Co., Ltd. (SZSE:300070) agreed to acquire an additional 10.01% stake in Beijing Landsky Lighting Technology Co., Ltd. from Ningbo Meishan Bonded Port Area Liangyicheng Equity Investment Partnership (Limited Partnership) for approximately CNY 390 million on December 6, 2018. Beijing Originwater Technology Co., Ltd. intends to sign an equity transfer agreement to acquire the stake. Payment will be done in 2 installments. A first installment of 80% of the acquisition price is payable before February 5, 2019 and a second installment for 20% of the acquisition price is payable before March 20, 2019. After completion of the transaction, Beijing Originwater Technology Co., Ltd. will own 90.01% stake and Ningbo Meishan Bonded Port Area Liangyicheng Equity Investment Partnership Enterprise (Ltd. Part.) will own 9.99% stake in Beijing Landsky Lighting Technology Co., Ltd. For the year ended December 31, 2017, Beijing Landsky Lighting Technology Co., Ltd. had total assets of CNY 1.4 billion, net assets of CNY 596.8 million, operating revenue of CNY 1.3 billion and net profit of CNY 360.8 million. As of December 6, 2018, the transaction was approved by the Board of Directors of Beijing Originwater Technology Co., Ltd. in the 17th meeting of 4th directorate.