Shanghai Huace Navigation Technology Ltd (SZSE:300627) entered into an agreement to acquire remaining 46% stake in Wuhan Luojia Xinkong Technology Co., Ltd. from Chen Changjun, Xie Hong, Liu Yingmei and Wuhan Xinkong Enterprise Management Consulting Partnership for CNY 69 million on November 27, 2020. Post the completion of the transaction, Wuhan Luojia will operate as a wholly owned subsidiary of Shanghai Huace. Wuhan Luojia reported total assets of CNY 48.1 million and total common equity of CNY 30.3 million as of September 30, 2020. The transaction does not require approval from the shareholders of Shanghai Huace. The transaction has been approved by the Board of Shanghai Huace on November 27, 2020.