Shenzhen Prince New Materials Co., Ltd. (SZSE:002735) agreed to acquire additional 34% stake in Dongguan iRice Electronics Development Co., Ltd. from SinoRich Developments Ltd. on July 6, 2019. Post completion, Shenzhen Prince New Materials Co., Ltd. will hold 85% stake and SinoRich Developments will hold no stake in Dongguan iRice Electronics Development Co., Ltd. Transaction was approved by Board of Shenzhen Prince New Materials Co., Ltd. (SZSE:002735) on July 6, 2019.