Hunan Xing Xiang Asset Management Co., Ltd. agreed to acquire XEMC Windpower CO. LTD. from Xiangtan Electric Manufacturing Co. Ltd. (SHSE:600416) for approximately CNY 920 million on June 29, 2020. Hunan Xing Xiang Asset Management Co., Ltd. paid a deposit of CNY 50 million on time in accordance with the Hunan Province United Property Rights Exchange. Shareholders of Xiangtan Electric Manufacturing Co. Ltd. approved the transaction.