Anhui Hengyuan Coal-Electricity Group Co., Ltd. (SHSE:600971) agreed to acquire Suzhou Chuangyuan Power Generation Co., Ltd. and 6% stake in Huaibei Xinyuan Thermal Power Co., Ltd. from Wanbei Coal-Electricity Group Co., Ltd. for approximately CNY 150 million on January 23, 2019. Anhui Hengyuan Coal-Electricity Group Co., Ltd. will pay CNY 132.9 million in cash in order to acquire 100% of Suzhou Chuangyuan Power Generation Co., Ltd. and for 6% of Huaibei Xinyuan Thermal Power Co., Ltd., it will pay CNY 16.8 million. As of November 30, 2018, Suzhou Chuangyuan Power Generation Co., Ltd. reported total assets of CNY 114.2 million and net assets of CNY 89.1 million and Huaibei Xinyuan Thermal Power Co., Ltd. reported total assets of CNY 280.5 million and net assets of CNY 247.6 million. The transaction needs to be submitted Anhui Hengyuan Coal-Electricity Group Co., Ltd.'s first extraordinary shareholders meeting in 2019 for consideration and approval. Anhui Hengyuan Coal-Electricity Group Co., Ltd. held the 25th meeting of the 6th Directorate on January 23, 2019 and approved the transaction.