Rongyu Group Co., Ltd. (SZSE:002622) signed framework agreement to acquire Union Insurance Broker Co., Ltd. from UIB Group Limited (OTCPK:UIBG.F) for up to CNY 2.8 billion on December 29, 2016. Rongyu will acquire Union Insurance Broker for CNY 2.3 billion to CNY 2.8 billion.

Rongyu Group Co., Ltd. (SZSE:002622) cancelled the acquisition of Union Insurance Broker Co., Ltd. from UIB Group Limited (OTCPK:UIBG.F) on December 29, 2017.