Tangshan Financial Holding Group Inc. signed the share transfer agreement to acquire 12.67% stake in Changshu Fengfan Power Equipment Co., Ltd. (SHSE:601700) from Fan Jiangang Fan, Liyi Fan, Yueying Fan and Jun Yang for approximately CNY 740 million on February 20, 2024. As of April 3, 2024 Transaction has received approval from anti-trust authorities. Transaction is subject to approval from regulatory authorities.

As of April 19, 2024 . Fan Jiangang and Fan Liyi, Fan Yueying and Yang Jun signed the "Supplementary Agreement to the Share Transfer Agreement" with Tangshan Financial Holding Group. As of May 7, 2024 transaction has already received regulatory approval.