Shenzhen Hongneng Investment Development Co., Ltd. agreed to acquire 10% stake in Shenzhen Shendianneng Electricity Co., Ltd from Shenzhen Clou Electronics Co., Ltd. (SZSE:002121) for CNY 50 million on June 28, 2018. For the period ending December 31, 2017, Shenzhen Shendianneng reported total assets of CNY 292.86 million, net assets of CNY 263.07 million, revenue of CNY 186.71 million, operating profit of CNY 13.83 million and net profit of CNY 57.4 million. 45th session of the company’s 6th directorate of Shenzhen Clou Electronics approved the deal.