China FV Group Ltd. agreed to acquire remaining 51% stake in Fuyao Energy Technology (Shanghai) Co., Ltd. from Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063) for CNY 310 million on November 13, 2020. As of December 31, 2019, Fuyao Energy Technology (Shanghai) Co., Ltd. recorded total assets of CNY 851.5 million, total liabilities of CNY 659 million, total revenues of CNY 708.9 million. As of June 30, 2020, Fuyao Energy Technology (Shanghai) Co., Ltd. recorded total assets of CNY 770.5 million, total liabilities of CNY 572.5 million, total revenues of CNY 241.7 million. On November 13, 2020, board of directors of Shenzhen Hopewind Electric Co., Ltd. approved the deal. China FV Group Ltd. completed the acquisition of remaining 51% stake in Fuyao Energy Technology (Shanghai) Co., Ltd. from Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063) on December 15, 2020.