Dingli Construction Group Co., Ltd. signed an agreement to acquire 10% stake in Guangxi Non-ferrous Metals Group Wuzhou Rare Earth Development Co., Ltd. from Shanghai Dingli Technology Development (Group) Co., Ltd. (SHSE:900907) for CNY 12 million on November 3, 2016. In related deals, Dingli Construction Group Co., Ltd. signed agreements to acquire 65% stake in Guangxi Dingli Rare Earth New Materials Industrial Park Management Co., Ltd., 100% stake in Guangxi Dingli Rare Earth New Materials Technology Co., Ltd., Guangxi Dingli Rare Earth New Materials Technology Co., Ltd., 45% stake in Shandong Zhongkai Rare Earth Materials Co., Ltd. and 41% stake in Zhejiang CNEEC Equipment Co., Ltd for CNY 28 million, CNY 88 million, CNY 21.5 million and CNY 33.8 million, respectively. For the year ended December 31, 2015, Guangxi Non-ferrous Metals Group Wuzhou Rare Earth Development Co., Ltd. reported total assets of approximately CNY 980 billion, net assets of approximately CNY 640 billion, revenues of CNY 1 trillion and net profit of CNY 7 billion. The deal is approved by board of Shanghai Dingli Technology Development (Group) Co., Ltd and is subject to further approval from shareholders. As of November 21, 2016, the transaction was approved by the shareholders of Shanghai Dingli Technology Development (Group) Co., Ltd. Dingli Construction Group Co., Ltd. completed the acquisition of 10% stake in Guangxi Non-ferrous Metals Group Wuzhou Rare Earth Development Co., Ltd. from Shanghai Dingli Technology Development (Group) Co., Ltd. (SHSE:900907) on January 4, 2018.