Shanghai Zhineng Industrial Electronics Co., Ltd. agreed to acquire 6% stake in Beken Corporation (SHSE:603068) from Bright Wise Limited, Luxmark Investments Limited, Fertile Wealth Limited and Tiefung (Hong Kong) Company Limited for approximately CNY 560 million on December 23, 2020. Under the terms of the transaction, CNY 67 per share will paid for acquisition of 8.34 million shares. Bright Wise Limited, Fertile Wealth Limited and Tiefung (Hong Kong) Company Limited will sell 1.38 million shares and and Luxmark Investments Limited 4.2 million shares. Transfer price for 1.38 million shares i.e. 0.99% stake was CNY 281.4 million and 4.2 million shares i.e. 3.03% stake is CNY 92.46 million. Within 5 working days Shanghai Zhineng will pay CNY 60 million. Within 5 working days transaction will be completed and within5 working days Shanghai Zhineng Industrial will pay CNY 498.78 million.