China Tungsten and Hightech Materials Co.,Ltd (SZSE:000657) agreed to acquire Nanchang Cemented Carbide Limited Liability Company from Minmetals Tungsten Group Co., Ltd. for approximately CNY 290 million on August 21, 2020. On August 21, 2020, the transaction was approved by the 9th directorate of China Tungsten and Hightech Materials Co.,Ltd. On September 9, 2020, 3rd special shareholders’ meeting of China Tungsten and Hightech Materials Co.,Ltd for 2020 approved the transaction.