Centre Testing International Group Co., Ltd. (SZSE:300012) agreed to acquire 13% stake in Zhejiang Fangyuan Electrical Equipment Testing Co., Ltd. from Hangzhou Huatai Zhice Equity Investment Partnership Enterprise (Limited Partnership) for CNY 76 million on May 24, 2018. Centre Testing International Group Co., Ltd. is to sign an agreement to acquire 13% stake in Zhejiang Fangyuan Electrical Equipment Testing Co., Ltd. from Hangzhou Huatai Zhice Equity Investment Partnership Enterprise (Limited Partnership). Centre Testing International Group Co., Ltd. will use own funds of CNY 76 million to acquire the stake. Zhejiang Fangyuan Electrical Equipment Testing Co., Ltd. reported total assets of CNY 280.93 million and net assets of CNY 220.17 million as at December 31, 2017. Zhejiang Fangyuan Electrical Equipment Testing Co., Ltd. reported revenues of CNY 117.92 million, operating profit of CNY 68.9 million and net profit of CNY 60.15 million in 2017. The Board of Directors and supervisory board of Centre Testing International Group Co., Ltd. approved the transaction on May 24, 2018. Centre Testing International Group Co., Ltd. (SZSE:300012) cancelled the acquisition of 13% stake in Zhejiang Fangyuan Electrical Equipment Testing Co., Ltd. from Hangzhou Huatai Zhice Equity Investment Partnership Enterprise (Limited Partnership) on May 24, 2019.