Chengdu Rainbow Appliance(Group) Shares Co.,LTD. (SZSE:003023) agreed to acquire remaining 34% stake in Chengdu Quanyuan Sanitary Products Co., Ltd. from Earth Corporation (TSE:4985) and Summit Agro International Ltd. for CNY 7.2 million on May 18, 2021. Chengdu Rainbow Appliance(Group) Shares Co.,LTD. (SZSE:003023) agreed to acquire 19% stake from Earth Corporation for CNY 4 million and 15% stake from Summit Agro International Ltd. for CNY 3.2 million. Chengdu Quanyuan Sanitary reported total assets of CNY 63.4 million, total liabilities of CNY 13.7 million and net assets of CNY 49.7 million as of March 31, 2021. On May 18, 2021, the 11th session of the Chengdu Rainbow Appliance's 9th Directorate approved the acquisition.