On July 24, Sunhao Optoelectronics announced its intention to transfer 100% of the equity in its wholly-owned subsidiary, Xinguang Energy Technology (Anhui) Co., Ltd., to Luxshare Precision Industry (Chuzhou) Co., Ltd., a related party, for a consideration of RMB 885,700. Luxshare Chuzhou will effectuate full payment on the date of equity transfer and concurrently settle the RMB 163 million in shareholder loans owed by Anhui Xinguang to Sunhao Optoelectronics.