Wang Manmei signed an equity transfer agreement to acquire Zhongyeda Electrical Technology (Shanghai) Co., Ltd. from Zhongyeda Electric Co., Ltd. (SZSE:002441) for CNY 48 million on July 18, 2014. During the year ended December 31, 2013, Zhongyeda Electrical Technology (Shanghai) Co., Ltd.'s had total assets of CNY 74.26 million, total liabilities of CNY 71.57 million, net assets of CNY 2.69 million, revenues of CNY 94.57 million, total profit of CNY 0.93 million, and net profit of CNY 0.7 million. Board of Directors of Zhongyeda Electric Co., Ltd. approved the transaction.