Changzhou Tenglong AutoPartsCo.,Ltd. (SHSE:603158) signed letter of intent to acquire an additional 16.1% stake in Sunrise Power Co., Ltd from Yixing Sitong Appliance Accessories Co., Ltd. for CNY 99 million on January 13, 2020. Changzhou Tenglong AutoPartsCo.,Ltd. will acquire shares at CNY 5.5 per share. Changzhou Tenglong AutoPartsCo.,Ltd. (SHSE:603158) signed share transfer agreement to acquire an additional 16.1% stake in Sunrise Power Co., Ltd from Yixing Sitong Appliance Accessories Co., Ltd. on February 27, 2020. Within ten working days after signing this agreement and Changzhou Tenglong AutoPartsCo's Directorate and shareholders' meeting approves the transaction,no later than 20 working days, the 10% of the share transfer consideration shall be paid as the first payment. Within ten working days from the date when Changzhou Tenglong AutoPartsCo pays the first instalment to Yixing Sitong Appliance Accessories, the target company shall complete the change of the shareholder register. Within six months after the target company completes the change of the shareholder register and delivers it to Changzhou Tenglong AutoPartsCo, Changzhou Tenglong AutoPartsCo shall pay Yixing Sitong Appliance Accessories 40% of the consideration for the transfer of shares as the second payment. Within twelve months after the stock settlement date, Changzhou Tenglong AutoPartsCo., shall pay the remaining 50% of the consideration for the share transfer to Yixing Sitong Appliance Accessories. Changzhou Tenglong AutoPartsCo. agrees to pay the interest on the outstanding balance after the settlement date of the transaction and before the final payment of the transaction is paid based on the bank's deposit interest rate for the same period. After the transaction Changzhou Tenglong AutoPartsCo will hold 19.64% equity of Sunrise Power Co., Ltd. The Board of Directors of Changzhou Tenglong AutoPartsCo.,Ltd. has approved the transaction. Changzhou Tenglong AutoPartsCo.,Ltd. (SHSE:603158) cancelled the acquisition of an additional 16.1% stake in Sunrise Power Co., Ltd from Yixing Sitong Appliance Accessories Co., Ltd. on August 27, 2020.