Zhuzhou Kibing Group Co.,Ltd (SHSE:601636) agreed to acquire the remaining 20% stake in Liling Jinsheng Silicon Industry Co., Ltd. from Wu Bo for CNY 13.2 million on November 25, 2020. Upon completion, Zhuzhou Kibing will hold 100% stake in Liling Jinsheng. For the year ended October 31, 2020, Liling Jinsheng Silicon had total assets of CNY 136.6 million and net assets of CNY 61.1 million. The transaction has been approved in the 21st meeting of Zhuzhou Kibing’s 4th Directorate held on November 25, 2020, and does not need the shareholders’ approval.