ShenZhen Clou Electronics Co., Ltd. (SZSE:002121) agreed to acquire 9.07% stake in Shanghai CENAT New Energy Company Limited from Beijing Puta Hongyuan Equity Investment Fund Partnership Enterprise (LP) for approximately CNY 120 million on October 17, 2017. Upon completion, ShenZhen Clou Electronics Co., Ltd.’s stake will increase from 11.13% to 20.2% in Shanghai CENAT New Energy Company Limited from Beijing Puta Hongyuan Equity Investment Fund Partnership Enterprise (LP). The transaction will be funded through self owned funds. As of December 31, 2016, Shanghai CENAT New Energy Company Limited reported total assets of CNY 668.7 million, net assets of CNY 385.6 million, operating revenue of CNY 133.7 million, operating loss of CNY 64.03 million, and net loss of CNY 58.1 million. The transaction has been approved by the 30th extraordinary session of the 6th directorate meeting of ShenZhen Clou Electronics Co., Ltd. and does not need its shareholders’ approval. ShenZhen Clou Electronics Co., Ltd. (SZSE:002121) cancelled the acquisition of 9.07% stake in Shanghai CENAT New Energy Company Limited from Beijing Puta Hongyuan Equity Investment Fund Partnership Enterprise (LP) on October 17, 2018.