Lanzhou Taihua Investment Holding Co., Ltd. won a bid to acquire 9.97% stake in Hainan Yatai Industrial Development Co., Ltd. (SZSE:000691) from Beijing Dashi Investment Co., Ltd. for approximately CNY 200 million on May 8, 2020. Under the terms, Lanzhou Taihua Investment Holding Co., Ltd. will acquire 32.22 million shares in Hainan Yatai Industrial Development Co., Ltd. As on December 14, 2020, 16.2 million shares of Hainan Yatai Industrial Development held by Beijing Dashi Investment Co., Ltd. have been transferred to Lanzhou Taihua Investment Holding Co., Ltd.