Guangxi Fangsheng Group Co., Ltd. proposed to acquire 30% stake in Anhui Ankai Futian Shuguang Axle Co., Ltd. from Liaoning SG Automotive Group Co., Ltd. (SHSE:600303) for CNY 36.5 million on August 30, 2020. Payment will be done in one single installment within 10 days since signing of the respective agreement. In 2019, Anhui Ankai Futian reported a total assets of CNY 569 million, total common equity of CNY 26.8 million, EBIT of 873 million and negative net income of CNY -7.5 million. The transaction was approved by the Board of Liaoning SG Automotive Group.