Jizhong Energy Group Co., Ltd entered into an equity transfer agreement to acquire 29.99% stake in HeBei Jinniu Chemical Industrial Co., Ltd. (SHSE:600722) from Jizhong Energy Resources Co., Ltd (SZSE:000937) for CNY 1.2 billion on November 27, 2015. Jizhong Energy Group Co., Ltd. will acquire 204 million shares at CNY 5.98 per share. After the completion of the transaction, Jizhong Energy Resources Co., Ltd. would still hold 26.06% stake in HeBei Jinniu Chemical Industrial. The transaction is subject to approval from Board and shareholders' approval from Jizhong Energy Resources Co., Ltd. The transaction is also subject to approval from the Board of Jizhong Energy Group Co., Ltd. The transaction is subject to approval from Hebei SASAC and State-owned Assets Supervision and Administration Commission of the State Council. As on November 27, 2015, the transaction was approved by Board of Directors of Jizhong Energy Resources. As of December 4, 2015, Hebei Provincial People's Government State-owned Assets Supervision and Administration Commission approved the transaction. As on December 24, 2015, the transaction was approved by shareholders of Jizhong Energy Resources.

Jizhong Energy Group Co., Ltd completed the acquisition of 29.99% stake in HeBei Jinniu Chemical Industrial Co., Ltd. (SHSE:600722) from Jizhong Energy Resources Co., Ltd (SZSE:000937) on January 18, 2016.