Guangzhou Jointas Chemical Co., Ltd. (SZSE:002909) agreed to acquire 3.08% stake in Zhuhai Glory Friction Material Co., Ltd. from Fortune Chuangtai Equity Investment Enterprise LP fund of Fortune Venture Capital Co., Ltd. and Shenzhen Dachen Chuangheng Equity Investment Enterprise (Limited Partnership) and Shenzhen Dachen Chuangrui Equity Investment Enterprise (Limited Partnership) fund of Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd. for CNY 20 million on January 17, 2020. Shenzhen Dachen Chuangtai Equity Investment Enterprise will sell 1.11% stake, Shenzhen Dachen Chuangheng Equity Investment Enterprise will sell 1.09% stake and Shenzhen Dachen Chuangrui Equity Investment Enterprise will sell 0.89% stake in Zhuhai Glory Friction Material. The transaction is approved by board of directors of Guangzhou Jointas. Zhuhai Glory reported net assets of CNY 251.94 million and total assets of CNY 440.62 million.