Chongqing Chuanyi Automation (603100.SH) is planning to acquire control of Kunlun Instrument to expand the variety of field instruments.

Chongqing Chuanyi Automation(603100.SH) announced that the company plans to acquire Chongqing Kunlun Instrument Co., Ltd. ("Kunlun Instrument") through acquiring equity and capital increase. The total investment amount for this transaction is 28.0059 million RMB, out of which 11.3859 million RMB will be used from the company's own funds to acquire 17.9531% equity of Kunlun Instrument from its shareholders Gong Zhengming and Chongqing Kunyi Enterprise Management Partnership Enterprise (Limited Partnership) ("Kunyi Management") (including 8.3341% equity from Gong Zhengming and 9.6190% equity from Kunyi Management); and 16.6200 million RMB will be used from the company's own funds for capital increase in Kunlun Instrument (including 6.0000 million RMB for increasing the registered capital of Kunlun Instrument, and the excess amount will be recorded in the capital reserves of Kunlun Instrument). Before this transaction, Chongqing Chuanyi Automation held 20.00% equity of Kunlun Instrument; after the completion of the transaction, Chongqing Chuanyi Automation will hold 51.74% equity of Kunlun Instrument, gaining control over Kunlun Instrument and including it in the consolidated financial statements. It is reported that this investment aims to expand the range of field instruments of Chongqing Chuanyi Automation, supplement the variety of field instrument products, establish a more complete pressure detection instrument product line, improve the series of field instrument products, further expand the industrial chain and value chain.