Changjiang & Jinggong Steel Building (Group) Co., Ltd (SHSE:600496) won a bid to acquire a 4.15% stake in Bank of Ruifeng for approximately CNY 320 million on September 21, 2016. Changjiang & Jinggong will acquire 56.4 million shares of Bank of Ruifeng. In September, 2016, the transaction was approved by Board of Directors of Changjiang & Jinggong Steel Building (Group) Co., Ltd.

Changjiang & Jinggong Steel Building (Group) Co., Ltd (SHSE:600496) completed the acquisition of a 4.15% stake in Bank of Ruifeng on December 16, 2016. Under the terms of the transaction, offer per share is CNY 5.717. As of December 31, 2015, Ruifeng Bank reported audited total assets of CNY 86.26 billion and audited net profit of CNY 879.68 million.