Ningbo Zhiyun Equity Investment Fund Management Co., Ltd. agreed to acquire 62.5% stake in Guangdong Dynavolt Renewable Energy Application Technology Co., Ltd. from Guangdong Dynavolt Renewable Energy Technology Co., Ltd. (SZSE:002684) on October 13, 2020. For the year ended December 31, 2019, Guangdong Dynavolt Renewable Energy Application Technology Co., Ltd. reported total assets of CNY 19.03 million, net liability of CNY 7.62 million, total revenue of CNY 7.69 million and net loss of CNY 7.68 million. The transaction is subject to approval of shareholders of Guangdong Dynavolt Renewable Energy Technology Co., Ltd. The transaction is approved by Board of Directors of Guangdong Dynavolt Renewable Energy Technology Co., Ltd.