Yunnan Provincial Energy Investment Group Co.,Ltd. signed a framework agreement to acquire 23.61% stake in Yunnan Yunwei Company Limited (SHSE:600725) from Yunnan State - Owned Capital Operation Limited on May 25, 2019. Pursuant to the terms of the transaction, Yunnan Provincial Energy Investment Group Co.,Ltd. will acquire 291 million shares of Yunnan Yunwei Company Limited. Yunnan Provincial Energy Investment Group Co.,Ltd. signed a share transfer agreement to acquire 23.61% stake in Yunnan Yunwei Company Limited from Yunnan State - Owned Capital Operation Limited for CNY 1.5 billion on June 3, 2019. Yunnan Provincial Energy Investment Group Co.,Ltd. will acquire the shares at CNY 5.16 per share. A first installment of CNY 600 million will be paid within 5 days since signature of the respective agreement. A second installment of CNY 370 million will be paid before June 19, 2019. As of June 3, 2019, Yunnan Provincial Energy Investment Group Co.,Ltd. owns a total of debt rights against Yunnan State - Owned Capital Operation Limited for a total of CNY 520 million. On the date, when all conditions for payment are satisfied, the amount of the secured debt rights will equal CNY 520 million of principal + interests up to the date of payment calculated according to the corresponding entrusted loan contract. If the above-mentioned guaranteed creditor's right amount is greater than the remaining transfer price of CNY 530 million, the amount of the above-mentioned guaranteed creditor's right amount equaling the remaining transfer price will be automatically refunded to the seller. The transfer of shares in this agreement requires the official share transfer agreement signed by Yunnan State-owned Capital Operation Co., Ltd. and Yunnan Energy Investment Group Co., Ltd. The transfer of shares in this agreement still requires the implementation of state-owned assets supervision and management examination and approval, and the concentration of anti-monopoly review by operators. On May 31, 2019, the Board of Yunnan Provincial Energy Investment Group Co.,Ltd. approved the transaction. On June 3, 2019, the Board of Yunnan State - Owned Capital Operation Limited approved the transaction. As on August 21, 2019, the transaction has been approved by the State-owned Assets Supervision and Administration Commission of the People's Government of Yunnan Province and Anti-monopoly Bureau of the State Administration of Markets.