CITIC Guoan Group Co., Ltd. entered into a legal binding framework sale and purchase agreement to acquire 29.9% stake in Hengtai Securities Co., Ltd (SEHK:1476) from a group of nine shareholders for CNY 9 billion on December 29, 2017. Under the terms of transaction, CITIC Guoan Group Co., Ltd. will acquire 779.7 million domestic shares of Hengtai Securities Co., Ltd. The transaction is subject to signing of definitive agreement before March 31, 2018 and approval by China Securities Regulatory Commission.