Funeng Oriental Equipment Technology Co.,Ltd (SZSE:300173) agreed to acquire 35% stake in Foshan Funeng Intelligent Manufacturing Technology Co., Ltd. from Foshan Heyue Investment Co., Ltd. for CNY 95 million on November 9, 2021. The deal is subject to Funeng Oriental Equipment Technology Co.,Ltd board approval. As of November 9, 2021 Funeng Oriental Equipment Technology Co.,Ltd board approved the deal. Foshan Heyue Investment Co., Ltd. has obtained approval from the competent authority to approve this transaction. Funeng Oriental Equipment Technology Co.,Ltd will hold the first extraordinary general meeting of shareholders of 2022 on January 10, 2022 to review the transaction. Funeng Oriental Equipment Technology Co.,Ltd will sign the "Equity Transfer Agreement" with Foshan Heyue Investment Co., Ltd. after the transaction has been reviewed by the shareholders meeting.