HUAYU Automotive Systems Company Limited (SHSE:600741) entered into an equity transfer agreement to acquire remaining 50% stake in Shanghai Saxophone Powertrain Component System Co., Ltd. from ZF (China) Investment Co.,Ltd for CNY 65.2 million on December 18 , 2018. HUAYU Automotive Systems Company Limited (SHSE:600741) entered into an equity transfer agreement to acquire 50% stake in Shanghai Saxophone Powertrain Component System Co., Ltd. from ZF (China) Investment Co.,Ltd on July 3, 2019. Post completion, Shanghai Saxophone Powertrain Component System Co., Ltd. has become wholly owned subsidiary of HUAYU Automotive Systems Company Limited. Shanghai Saxophone Powertrain Component System Co., Ltd. will be renamed to Huayu Powertrain Component System (Shanghai) Co., Ltd. subject to industrial and commercial registration.