Guangzhou Haige Communications Group Incorporated Company (SZSE:002465) agreed to acquire 11.4% stake in Changsha Haige Beidou Information Technology Co., Ltd from Guangzhou Radio and Television Research Institute Co., Ltd. for CNY 78.3 million on May 24, 2021. Post completion, The Guangzhou Haige Communications Group Incorporated Company will hold 34.0543% and Guangzhou Radio and Television Research Institute Co., Ltd. will hold 11.4989%. As on March 31, 2021, Changsha Haige Beidou Information Technology Co., Ltd reported total assets of CNY 400 million, Net assets of CNY 352 million, Revenue of CNY 5.2 million and Net profit of CNY- 4.07 millions. Transaction is approved by the Board of Guangzhou Haige Communications Group Incorporated Company.