Zhejiang Double Arrow Rubber Co., Ltd. (SZSE:002381) signed a share purchase agreement to acquire 80% stake in Zhejiang Huanneng Transmission Technology Co., Ltd. from Sanlux Co.,Ltd (SZSE:002224) and Zhejiang Fengyi Venture Capital Co., Ltd. for CNY 60 million on April 3, 2020. As of December 31, 2018, Zhejiang Huanneng Transmission Technology reported total assets of CNY 93.2 million, net asset of CNY 68.1 million, revenue of CNY 50.1 million, operating profit of CNY 1 million and net profit of CNY 0.99 million. The transaction was approved by the Board of Directors of Sanlux and does not require approval from shareholders of Sanlux.