Shenzhen Ecobeauty Co., Ltd. (SZSE:000010) entered into an agreement to acquire an additional 19% stake in Fujian Tunnel Engineering Co., Ltd. from Pingtan Xinsheng Equity Investment Partnership Enterprise (Limited Partnership) for approximately CNY 180 million on August 21, 2019. Post completion, Shenzhen Ecobeauty Co., Ltd. will hold 70% stake in Fujian Tunnel Engineering Co., Ltd. For the year ended December 31, 2019, Fujian Tunnel Engineering Co., Ltd. reported total assets of CNY 1.28 billion, net assets of CNY 0.28 billion, total revenue of CNY 0.73 billion, operating profit of CNY 0.13 billion and net profit of CNY 87 million. The transaction was reviewed and approved at the tenth meeting of the tenth directorate of Shenzhen Ecobeauty Co., Ltd. and doesn’t need to be submitted to the Shenzhen Ecobeauty Co., Ltd.'s shareholders meeting for deliberation. Shenzhen Ecobeauty Co., Ltd. (SZSE:000010) completed the acquisition of an additional 19% stake in Fujian Tunnel Engineering Co., Ltd. from Pingtan Xinsheng Equity Investment Partnership Enterprise (Limited Partnership) on August 30, 2019. In accordance with the stipulations of the relevant agreement, Shenzhen Ecobeauty Co., Ltd. paid 51% of the transaction price amounting to CNY 89.66 million to Pingtan Xinsheng Equity Investment Partnership Enterprise (Limited Partnership).