Shanghai Hanbell Precise Machinery Co., Ltd. agreed to acquire a 14% stake in Zhejiang Keente Motor Technology Co., Ltd. from Future Horizon Holding Limited for CNY 60.2 million.

Shanghai Hanbell Precise Machinery Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of fluid machineries and related components. The Company's products mainly include screw refrigeration equipment, various vacuum pumps, gas compressors, casting products and others. The Company's products are mainly applied in the storage, fresh-keeping and drying of agricultural products, fish products, fruits, vegetables and others. The Company distributes its products in domestic market and to overseas markets.