Bohai Ferry Group Co., Ltd. (SHSE:603167) signed a share transfer agreement to acquire Shandong Haoyang Investment Co., Ltd. from a group of seller for approximately CNY 110 million on March 27, 2020. As of December 31, 2019, Shandong Haoyang Investment reported total assets of CNY 57.63 million, net assets of CNY 26.65 million, revenue of CNY 0.2 million and net profit of CNY 6.27 million. The transaction was approved by the board of directors of Bohai Ferry Group on the 39th session of the company’s 4th directorate held on March 27, 2020. The transaction was also approved by the shareholders of Shandong Haoyang Investment.