Zhangjiagang Jinnonglian Industrial Co., Ltd., Zhangjiagang Dongjin Industrial Co., Ltd., Suzhou Dunhang Value Investment Partnership (Limited Partnership), Suzhou Dunhang Value 2 Investment Partnership (Limited Partnership), Suzhou Dunhang Value 3 Investment Partnership (Limited Partnership), Suzhou Huizhang Venture Capital Partnership (Limited Partnership) and Changzhou Zhongding Tiansheng Venture Capital Partnership (Limited Partnership) agreed to acquire 80% stake in Jiangsu Changyuan Huasheng New Energy Materials Co. Ltd. from Changyuan Group Ltd. (SHSE:600525) for approximately CNY 580 million on January 30, 2019. Under the terms, Zhangjiagang Jinnonglian Industrial Co., Ltd., Zhangjiagang Dongjin Industrial Co., Ltd., Suzhou Dunhang Value Investment Partnership (Limited Partnership), Suzhou Dunhang Value 2 Investment Partnership (Limited Partnership), Suzhou Dunhang Value 3 Investment Partnership (Limited Partnership), Suzhou Huizhang Venture Capital Partnership (Limited Partnership) and Changzhou Zhongding Tiansheng Venture Capital Partnership (Limited Partnership) will acquire 33.4%, 6.9%, 5.6%, 11.5%,11.4%, 6.9% and 4.2% stake respectively and pay CNY 241 million, CNY 50 million, CNY 40 million, CNY 83 million, CNY 82 million, CNY 50 million and CNY 30 million as consideration respectively. As of September 30, 2018, Jiangsu Changyuan Huasheng New Energy Materials Co. Ltd. reported total assets of CNY 840.4 million and net assets of CNY 412.3 million. Changyuan Group Ltd. held the 10th meeting of the 7th Directorate on January 30, 2019 and approved the transaction. Zhongshui Zhiyuan Assets Appraisal Co., Ltd. acted as valuer and Beijing Deheng (Shenzhen) Law Firm acted as legal advisor to Changyuan Group Ltd. A group of buyers cancelled the acquisition of 80% stake in Jiangsu Changyuan Huasheng New Energy Materials Co. Ltd. from Changyuan Group Ltd. (SHSE:600525) on January 30, 2020.