Fuchun Technology Co., Ltd. (SZSE:300299) signed the agreement to acquire 86.8% stake in GuangDong Altratek Communications Technology Corporation from a group of sellers on September 14,2020. Under the agreement, Fuchun Technology Co., Ltd. shall issue shares as consideration to sellers. The transaction is subject to certain conditions including approval of the official proposal of this transaction by the respective investment decision-making committees of Shenzhen Qianhai Shengmen Fubang Investment Center (Limited Partnership), Zhanjiang Zhongguang Venture Capital Co., Ltd., and Dongguan Zhongke Zhongguang Venture Capital Co., Ltd, formal plan of this transaction need to be approved by the Fuchun Technology Co., Ltd. 's board of directors, Board of Supervisors and its shareholders. Transaction also requires approval from China Securities Regulatory Commission. The transaction has been approved by the parties, approved in principle by the controlling shareholder, Board of Directors and board of supervisors of Fuchun Technology Co., Ltd. Fuchun Technology Co., Ltd. (SZSE:300299) cancelled the acquisition of 86.8% stake in GuangDong Altratek Communications Technology Corporation from a group of sellers on January 8,2021. The Board of Directors of Fuchun Technology approved the termination of the transaction held the sixth meeting.