Guangxi Jinkong Asset Management Co., Ltd. agreed to acquire 35% stake in Guangxi Yongsheng Petrochemical Co., Ltd. from Guangxi Energy Co., Ltd. (SHSE:600310) for approximately CNY 190 million on June 16, 2024. A cash consideration of CNY 194.45 million will be paid by Guangxi Jinkong Asset Management Co., Ltd. As of April 30, 2024, Guangxi Yongsheng Petrochemical Co., Ltd. reported total assets of CNY 3.75 billion and total common equity of CNY 569.97 million. The transaction is yet to be approved by the shareholders of Guangxi Energy Co., Ltd. and has been approved by the Board of Directors of Guangxi Energy Co., Ltd.