Tianjin Huanou Semiconductor Material Technology Co., Ltd. agreed to acquire remaining 49% stake in Tianjin Middle Ring Lingxian Material Technology Limited Company from Tianjin Zhonghuan Semiconductor Co., Ltd. (SZSE:002129) for approximately CNY 140 million on March 23, 2018. For the year ended December 31, 2017, Tianjin Middle Ring Lingxian Material Technology Limited Company reported total assets of CNY 706.3 million, net assets of CNY 224.7 million, operational income of CNY 375.4 million, and net profit of CNY 8.5 million. The transaction was approved by the 6th meeting of the 5th directorate Tianjin Zhonghuan Semiconductor Co., Ltd. on March 23, 2018.