Bian Cheng signed a share transfer agreement to acquire an additional 5.4% stake in Keda Clean Energy Co., Ltd. (SHSE:600499) from Lu Qin for approximately CNY 500 million on June 15, 2016. Under the terms of the deal, 38 million shares will be transferred at an offer per share of CNY 13.23. Post transaction, Bian Cheng will hold 12.33% and Lu Qin will hold 9.63% stake in Keda Clean Energy. Bian Cheng completed the acquisition of additional 5.4% stake in Keda Clean Energy Co., Ltd. (SHSE:600499) from Lu Qin on June 16, 2016. On July 11, 2016, Keda Clean Energy received notice from Bian Cheng and Lu Qin informing that as per the “transfer registration confirmation” issued by the China Securities Depository and Clearing Co., Ltd. Shanghai branch, the transfer registration procedures for the share transfer has been completed on July 8, 2016.