Jiangyin Hengrun Heavy Industries Co., Ltd (SHSE:603985) agreed to acquire 45.33% stake in Yinniu Microelectronics (Wuxi) Co., Ltd. from Jiangsu Zhongpu Financial Outsourcing Service Co., Ltd. for CNY 340 million on September 19, 2020. Jiangyin Hengrun Heavy will receive 34,000 shares of Yinniu Microelectronics as a part of the transaction. There is no equity transfer price to be paid but Jiangyin Hengrun will will fulfill the obligation of Jiangsu Zhongpu Financial Outsourcing to pay the registered capital of CNY 340 million. In a related transaction, Jiangyin Hengrun signed an agreement to subscribe for the preferred shares to be issued by Inuitive Ltd. Post completion of the transaction, Jiangsu Zhongpu Financial Outsourcing will hold 1,000 shares (1.33% stake) of Yinniu Microelectronics.