China Power Complete Equipment Co., Ltd. agreed to acquire 2.33% stake in SPIC Financial Co., Ltd. from Jilin Power Share Co.,Ltd. (SZSE:000875) for approximately CNY 290 million on November 5, 2018. The deal has been done via a non-public agreement transfer method. Payment will be done in one single installment within 7 days since signing of the corresponding final formal agreement. For the year ending December 31, 2017, SPIC Financial Co., Ltd. reported operating revenues of CNY 1.3 billion and net profit of CNY 778.6 million. As of December 31, 2017, SPIC Financial Co., Ltd. reported total assets of CNY 36.8 billion and owners' equity of CNY 9.7 billion. The transaction was approved by the 32nd meeting of the 7th directorate of Jilin Power Share Co.,Ltd. on November 5, 2018.