Shanghai Enlei Investment Management Co., Ltd agreed to acquire remaining 49% stake in Shanghai Jiangshang Industrial Co., Ltd. from PNC Process Systems Co., Ltd. (SHSE:603690) for approximately CNY 110 million on January 29, 2021. Shanghai Enlei Investment Management shall pay the entire payment in one lump sum within 60 working days after the signing of the agreement. As reported on March 31, 2021, parties to the transaction signed agreement recently. After completion of the transaction, Shanghai Jiangshang Industrial will become wholly owned subsidiary of Shanghai Enlei Investment Management. Shanghai Jiangshang Industrial reported total assets of CNY 165.3 million, total revenues of CNY 9.04 million, net loss of CNY 0.3 million and total common equity of CNY 164.9 million for the year ending December 31, 2020. As of February 19, 2021, the transaction was approved by the shareholders of PNC Process Systems Co., Ltd.