Zhuhai Da Heng Qin Group Co., Ltd proposed to acquire an additional 13.95% stake in Shenzhen Bauing Construction Holding Group Co., Ltd. (SZSE:002047) for approximately CNY 340 million on July 8, 2024. A cash consideration valued at CNY 1.6 per share will be paid by Zhuhai Da Heng Qin Group for 211,516,693 shares. Upon completion, Zhuhai Da Heng Qin Group Co., Ltd will own 33.41% stake in Shenzhen Bauing Construction Holding Group Co., Ltd.

CSC Financial Co., Ltd. acted as financial advisor for Zhuhai Da Heng Qin Group Co., Ltd. Guangdong Exellenteam Law Firm acted as legal advisor for Zhuhai Da Heng Qin Group Co., Ltd.