Datang Guilin New Energy Co., Ltd. agreed to acquire 97.5% stake in Datang Gongcheng New Energy Co., Ltd. from Ming Yang Smart Energy Group Limited (SHSE:601615) for CNY 79.6 million on October 15, 2018. As of December 31, 2018, Datang Gongcheng New Energy Co., Ltd. reported revenue of CNY 55.3 million, total assets of CNY 389.7 million, net income of CNY 19 million and net assets of CNY 121.1 million. The transaction has been approved by the board of Ming Yang Smart Energy Group Limited. Datang Guilin New Energy Co., Ltd. complete the acquisition of 97.5% stake in Datang Gongcheng New Energy Co., Ltd. from Ming Yang Smart Energy Group Limited (SHSE:601615). on March 25, 2019.