Beijing Jingcheng Machinery Electric Industrial Investment Co., Ltd. agreed to acquire 2.02% stake in Shanghai Sunwise Energy Systems Co., Ltd. from Zhejiang Kaier New Materials Co.,Ltd. (SZSE:300234) for CNY 27.4 million on May 31, 2024. The consideration consists of CNY 27.40 million in cash. As part of the consideration, CNY 27.40 million was paid towards common equity.

The deal has been approved by board of directors of Zhejiang Kaier New Materials Co.,Ltd. As of April 30, 2024, Shanghai Sunwise Energy Systems Co., Ltd reported total assets of CNY 660 million, and net assets of CNY 210 million.