MeiDu Energy Corporation (SHSE:600175) signed a framework agreement to acquire a 98.51% stake in Shandong RuiFu Lithium Industry Co., Ltd. for CNY 2.9 billion on October 27, 2017. The consideration amount is no more than CNY 3.6 billion. The transaction is subject to shareholder approval of MeiDu Energy Corporation and Tianan Property Insurance Co., Ltd. The transaction was approved by the Board of Directors of MeiDu Energy Corporation in the 9th session of 9th directorate on October 27, 2017. MeiDu Energy Corporation received an inquiry letter from Shanghai Stock Exchange concerning information about the transaction on October 27, 2017. The transaction is subject to shareholder approval of MeiDu Energy Corporation and Tianan Property Insurance Co., Ltd. On March 23, 2018, the transaction was approved by the shareholders of MeiDu Energy Corporation. MeiDu Energy Corporation (SHSE:600175) completed the acquisition of 71% stake in Shandong RuiFu Lithium Industry Co., Ltd. on April 10, 2018.