ShenZhen Clou Electronics Co., Ltd. (SZSE:002121) signed share transfer agreement to acquire additional 11.14% stake in Shanghai CENAT New Energy Company Limited from Enaxusa (HK) Co. Limited for approximately CNY 150 million on December 22, 2017. In a related transaction, ShenZhen Clou Electronics Co., Ltd. entered into an agreement to acquire 3.72% stake in Shanghai CENAT New Energy Company Limited for CNY 47.3 million. Upon completion of this transaction and subsequent transactions, ShenZhen Clou Electronics Co., Ltd. will hold 35.05% stake in Shanghai CENAT New Energy Company Limited. 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, revenue of 133.7 million, operating loss of CNY 64 million and net loss of CNY 58.1 million. The transaction is subject to approval from the relevant government departments. The transaction has been approved by the 6th directorate in its 34th special meeting of ShenZhen Clou Electronics Co., Ltd. and does not need its shareholders’ approval.