Sichuan Gangrong Investment Development Group Co., Ltd. agreed to acquire 6% stake in Meta System S.p.A. from Shenzhen Deren Electronic Co., Ltd. (SZSE:002055) for €16.2 million on June 28, 2019. In a related transactions, Sichuan Gangrong Investment Development Group Co., Ltd. agreed to acquire 10% stake in Meta System S.p.A. from China Alliance Investment Limited for €27 million and at the same time carrying out Meta System S.p.A.’s capital increase of €76.3 million. On completion of these transactions, Sichuan Gangrong Investment Development Group will hold 34.5% stake, Deren Europe Investment Holding will hold 35.9% stake, China Alliance Investments Limited will hold 12.58% stake and Shenzhen Yuanzhi Fuhai New Energy Industry Co., Ltd will hold 17.83% stake in Meta System. Meta System reported total assets of CNY 946.81 million (€120.24 million), total liability of CNY 911.64 million (€115.77 million), net assets of CNY 35.17 million (€4.47 million), revenue of CNY 990.31 million (€125.76 million) and net loss of CNY 107.53 million (€13.66 million) for the year ending on December 31, 2018. The transaction was approved by Shenzhen Deren Electronic's directorate on June 28, 2019 and and does not need the shareholders’ approval. Sichuan Gloport Investment & Development Group Co.,Ltd. cancelled the acquisition of 6% stake in Meta System S.p.A. from Shenzhen Deren Electronic Co., Ltd. (SZSE:002055) on June 28, 2020.