Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) entered into an agreement to acquire remaining 49% stake in Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd from Sakthi Automotive Group USA Inc. for $19.6 million (approximately CNY 130 million) on April 9, 2021. The purchase price will be paid at the time of delivery. Following the transaction, Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd will become a wholly-owned subsidiary of Bethel Automotive Safety Systems Co. In related transaction, Bethel Automotive Safety Systems Co., Ltd entered into an agreement to acquire remaining 51% stake in Weihai Sabo Automotive Safety System Co., Ltd. from Sakthi Automotive Group USA Inc. for $20 million. The transaction will be funded from Bethel Automotive Safety Systems Co., Ltd's own fund. For the year ended December 31, 2020, Weihai Bethel Sakthi Automotive Safety Systems Co. reported total assets of CNY 695.8 million, net assets of CNY 510.5 million, operating revenue of CNY 786.7 million, operating profit of CNY 72.4 million and net profit of CNY 63.1 million. The transaction needs to be submitted to Bethel Automotive Safety Systems' shareholders meeting for deliberation. The transaction has been reviewed and approved at the 22nd meeting of Bethel Automotive Safety Systems Co.'s second Board of Directors and the 17th meeting of the second Board of Supervisors. Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) completed the acquisition of remaining 49% stake in Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd from Sakthi Automotive Group USA Inc. on July 14, 2021.