Shandong Huatai Paper Industry Shareholding Co.,Ltd (SHSE:600308) agreed to acquire Dongying Liancheng Chemical Co., Ltd. from Huatai Group Co., Ltd. on January 11, 2019. Shandong Huatai Paper Industry Shareholding Co.,Ltd intends to use cash for the acquisition. As of September 30, 2018, Dongying Liancheng Chemical reported total assets of CNY 428.9 million and net assets of CNY 107.7 million. The transaction has been approved by the 6th meeting of the 9th directorate of Shandong Huatai Paper Industry Shareholding Co.,Ltd. Shandong Huatai Paper Industry Shareholding Co.,Ltd (SHSE:600308) cancelled the acquisition of Dongying Liancheng Chemical Co., Ltd. from Huatai Group Co., Ltd. on January 11, 2020.