Zhejiang Reclaim Construction Group Co., Ltd. (SZSE:002586) signed a share transfer agreement to acquire 70% stake in Xiongxian Anjie Construction and Installation Engineering Co., Ltd. for CNY 6.6 million on January 11, 2018. Zhejiang Reclaim Construction Group Co., Ltd along with other shareholders will carry out capital increase in Xiongxian Anjie Construction and Installation Engineering Co., Ltd. in proportion to their respective shareholding. Zhejiang Reclaim Construction Group Co., Ltd. will use own funds to fund the transaction. The transaction matter falls within the approval jurisdiction of the Chairman of the Board and does not need approval from the Board of Directors and shareholders of Zhejiang Reclaim Construction Group Co., Ltd.