Xiangtan Electric Manufacturing Co., Ltd. (SHSE:600416) agreed to acquire Xiangtan Electric Manufacturing Group Hunan Logistics Co., Ltd from Xiangtan Electric Manufacturing Group Co., Ltd. for CNY 66.3 million on April 28, 2017. The transaction is approved by the Board of Xiangtan Electric Manufacturing Co., Ltd and does not require Xiangtan Electric Manufacturing Co., Ltd's shareholder approval. Xiangtan Electric Manufacturing Co., Ltd. (SHSE:600416) cancelled the acquisition of Xiangtan Electric Manufacturing Group Hunan Logistics Co., Ltd from Xiangtan Electric Manufacturing Group Co., Ltd. on April 28, 2018.