Shanghai Aerospace Equipment Manufacturing General Co., Ltd made an offer to acquire 80% stake in Shanghai Xinguang Automobile Electrical Co., Ltd from Shanghai Aerospace Automobile Electromechanical Co., Ltd. (SHSE:600151) for approximately CNY 390 million on December 29, 2020. The above equity transfer will provide financial support for the company's automotive thermal system industry development, which will help the company focus on its main business and lay a solid foundation for the healthy development of the automotive thermal system industry.