On October 14, 2016, Jiangxi Wanhong High-tech Materials Co., Ltd. closed the transaction. The company signed supplemental agreement with Guangdong Weihua Corporation (SZSE:002240) which was approved at the 32nd session of its 5th directorate of the investor. The company received CNY 93,257,100 from Guangdong Weihua Corporation. The company completed the registration modification procedures, and obtained the business license issued by the Market and Quality Supervision Administration of Wan’an and the Industry and Commerce and Quality Supervision Administration of Mianzhu.