Ningbo Meishan Bonded Port Area Jiuying Phase III Equity Investment Partnership Enterprise (LP) agreed to acquire 3% stake in Beijing National Battery Technology Co., Ltd. from ShenZhen Clou Electronics Co., Ltd. (SZSE:002121) for approximately CNY 120 million on October 28, 2016. During the year ended December 2015, Beijing National Battery Technology Co., Ltd. reported total assets of CNY 404.17 million, net assets of CNY 182.85 million, operating profit of CNY 70.29, Total revenues of 369.18 and net profit of CNY 60.05 million. The transaction was approved by the Board of ShenZhen Clou Electronics Co., Ltd. and does not need any shareholder approval. Ningbo Meishan Bonded Port Area Jiuying Phase III Equity Investment Partnership Enterprise (LP) cancelled the acquisition to acquire 3% stake in Beijing National Battery Technology Co., Ltd. from ShenZhen Clou Electronics Co., Ltd. (SZSE:002121) on October 28, 2017.