Yinbang Clad Material Co., Ltd. (SZSE:300337) acquired remaining 5% stake in Wuxi Silver Precise Manufacturing Technology Co., Ltd from An Xuehui for free effective April 6, 2016. After completion of the equity transfer, Yinbang Clad Material will hold 100% stake and An Xuehui will hold no stake in Wuxi Silver Precise Manufacturing Technology. Wuxi Silver Precise Manufacturing Technology will become a wholly-owned subsidiary of Yinbang Clad Material Co., Ltd after the transaction.

After completion of the transaction, Wuxi Silver Precise Manufacturing Technology Co., Ltd will change the name to Wuxi Yinbang Defense Technology Co., Ltd. Wuxi Silver Precise Manufacturing Technology Co., Ltd reported total assets of CNY 6.54 million and net assets of CNY 5.96 million. The transaction does not need approvals from Yinbang Clad Material's directorate and shareholders' meeting.