Dingli Construction Group Co., Ltd. signed share transfer agreement to acquire 41% stake in Zhejiang CNEEC Equipment Co., Ltd. from Shanghai Dingli Technology Development (Group) Co., Ltd. (SHSE:900907) for CNY 33.8 million on November 3, 2016. In a related transaction Dingli Holding Group Co., Ltd. signed share transfer agreement to acquire Guangxi Dingli Rare Earth New Materials Industrial Park Management Co., Ltd.’s 65% stake, Guangxi Dingli Rare Earth New Materials Technology Co., Ltd.’s 100% stake, Shandong Zhongkai Rare Earth Materials Co., Ltd.’s 45% stake, Guangxi Non-ferrous Metals Group Wuzhou Rare Earth Development Co., Ltd.’s 10% stake from Shanghai Dingli Technology Development (Group) Co., Ltd. for CNY 28 million, CNY 88 million, CNY 21.5 million, CNY 12 million. For the year ended December 31, 2015 Zhejiang CNEEC Equipment Co., Ltd. reported total revenue of CNY 1.2 million, total assets of CNY 185 million, net loss of CNY 0.022 million, net assets of CNY 185 million. The transaction is subject to approval from shareholders of Shanghai Dingli Technology Development (Group) Co., Ltd. As of November 3, 2016, board of Shanghai Dingli Technology Development (Group) Co., Ltd. approved the transaction. 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 41% stake in Zhejiang CNEEC Equipment Co., Ltd. from Shanghai Dingli Technology Development (Group) Co., Ltd. (SHSE:900907) on January 4, 2018.