Zhengzhou Yutong Bus Co., Ltd. (SHSE:600066) acquired remaining 29% stake in Hainan Yaoxing Transportation Group Co., Ltd. from Hainan Haiqi Transportation Group Co.,Ltd. (SHSE:603069) for CNY 33.5 million effective December 7, 2020. Hainan Haiqi Transportation Group Co.,Ltd. won the bid to acquire the stake. Prior to the transaction, Zhengzhou Yutong Bus Co., Ltd. held 71% stake and Zhengzhou Yutong Bus Co., Ltd. held 21% stake in Hainan Yaoxing Transportation Group Co., Ltd. Hainan Yaoxing Transportation Group Co., Ltd. reported total assets of CNY 110.83 million and net assets of CNY 83.74 million as of May 31, 2020.