Beijing Ruibang Investment Management Co., Ltd. agreed to acquire 52% stake in Beijing VSAIL Fire Protection Equipment Co., Ltd. from Shaanxi J and R Optimum Energy Co., Ltd. (SZSE:300116) for CNY 69.01 million on November 15, 2016. Shaanxi J and R Optimum Energy will transfer its 52% stake in Beijing VSAIL Fire Protection Equipment Co., Ltd. for CNY 35.88 million and transfer its accounts receivables of CNY 54.5 million for CNY 33.13 million. Beijing VSAIL Fire Protection Equipment reported revenue of CNY 54.9 million, total assets of CNY 88 million, operating profit of CNY 3.5 million, net profit of CNY 3.96 million and net assets of CNY 20.8 million for the year ending, December 31, 2015. The transaction is subject to approval by the shareholders of Shaanxi J and R Optimum Energy and has been approved by the Board of Shaanxi J and R Optimum Energy.