Hangzhou Boiler Group Co., Ltd. (SZSE:002534) agreed to acquire remaining 16.5% stake in Hangzhou Boiler Group Jiangnan Energy Co., Ltd. from Hangzhou Boiler Group Engineering Materials Co., Ltd. for CNY 16.5 million on August 21, 2015. Hangzhou Boiler Group Jiangnan Energy Co., Ltd. reported total assets of CNY 213.87 million, net liabilities of CNY 17.1 million, operating revenues of CNY 296.95 million and net loss of CNY 29.57 million for the year ending December 31, 2014. The transaction does not need to be submitted for review in Hangzhou Boiler Group Co., Ltd.'s shareholders' meeting but was approved by the Board of Hangzhou Boiler Group Co., Ltd.