Jilin Power Share Co.,Ltd. (SZSE:000875) agreed to acquire 70% stake in Songyuan Shangyuan New Energy Co., Ltd. from Beijing 2G New Energy Investment Co., Ltd. for CNY 14 million on December 4, 2017. As per the terms, with this acquisition the corresponding derivative rights will also be acquired from Beijing 2G New Energy Investment Co., Ltd. Post completion, Songyuan Shangyuan New Energy will be owned 70% by Jilin Power Share and 30% by Beijing 2G New Energy Investment. In a related transaction, Jilin Power Share is also acquiring 51% stake in Shijiazhuang-based new energy firm for CNY 1 and inject capital of CNY 5.1 million after acquisition. The transaction has been approved by the Jilin Power Share Co.,Ltd. in its 7th directorate’s 20th meeting and does not need approval from the shareholders. Jilin Power Share Co.,Ltd. (SZSE:000875) cancelled the acquisition of 70% stake in Songyuan Shangyuan New Energy Co., Ltd. from Beijing 2G New Energy Investment Co., Ltd. on December 4, 2018.