Blackstone Inc. (NYSE:BX) agreed to acquire remaining 20% stake in Tianjin Xingjian Supply Chain Management Co., Ltd. from Pingtan Xinzhong Asset Management Co., Ltd. for CNY 50 million on August 9, 2024. A cash consideration of CNY 50 million will be paid by Blackstone Inc. (NYSE:BX). Upon completion, Blackstone Inc. (NYSE:BX)will own 100% stake in Tianjin Xingjian Supply Chain Management Co., Ltd. As of March 31, 2024, Tianjin Xingjian Supply Chain Management Co., Ltd. reported total assets of CNY 442.78 million and total common equity of CNY 164.84 million.

The deal has been approved by the Board of Directors of Fujian Dongbai (Group) Co.,Ltd.