Fannie Mae, May 29 (Xinhua)-- Chunhui Intelligence Control announced that the company plans to spend 99.5 million yuan to acquire 100% equity of Shaoxing Tenglong Thermal Insulation Materials Co., Ltd. (referred to as "Tenglong Thermal Insulation") held by Chunhui Group. After the completion of the acquisition, the company will obtain the real estate and land use rights of Tenglong Insulation located in Xinsha Village, Cao'e Street, Shangyu District, Shaoxing City, which will help to increase the land for industrial operation and implement the factory facilities and other infrastructure of the subsidiary Shaoxing Chunhui Precision Mechatronics Co., Ltd.