Huatai Securities (Shanghai) Asset Management Company Ltd. signed a share transfer agreement to acquire 6.03% stake in Saimo Electric Co., Ltd. (SZSE:300466) from Li Ran, Wang Qian, and Jiangsu Saimo Technology Co., Ltd. for approximately CNY 200 million on March 27, 2019. Under the terms, 33.3 million shares will be acquired at CNY 6 per share. Li Ran will sell 15.3 million shares (2.8% stake), Jiangsu Saimo Technology Co., Ltd. will sell 7.8 million shares (1.4% stake) and Wang Qian will sell 10.2 million shares (1.9% stake). Upon completion, Li Ran’s stake in Saimo Electric Co., Ltd. will decrease from 11.1% to 8.3%, Jiangsu Saimo Technology Co., Ltd.’s stake in Saimo Electric Co., Ltd. will decrease from 7.8% to 6.4% and Wang Qian’s stake in Saimo Electric Co., Ltd. will decrease from 7.4% to 5.5%. Huatai Securities (Shanghai) Asset Management Company Ltd. cancelled the acquisition of 6.03% stake in Saimo Electric Co., Ltd. (SZSE:300466) from Li Ran, Wang Qian, and Jiangsu Saimo Technology Co., Ltd. on March 27, 2020.