Tianjin Guangyu Development Co., Ltd. (SZSE:000537) agreed to acquire 30% stake in Chongqing Luneng Yingda Property Co., Ltd. from Urumqi Century Hengmei Equity investment Co., Ltd. for approximately CNY 300 million on October 12, 2016. As on October 20, 2016, supplement agreement has been signed. Under the terms of the transaction, Tianjin Guangyu Development Co., Ltd. will issue 38.3 million shares. Under the new terms of amendment, Tianjin Guangyu Development Co., Ltd. adjusted its shares and now issued 38.6 million shares. The transaction is subject to SASAC approval. As on October 12, 2016, People's Republic of China Anti-monopoly Bureau approved the transaction. On October 20, 2016, transaction was approved by the Board of Tianjin Guangyu Development Co., Ltd. On November 22, 2016, the State-owned Assets Supervision and Administration Commission of the State Council approved the transaction. On December 1, 2016, Tianjin Guangyu Development Co., Ltd. held its 5th extraordinary general shareholders’ meeting of 2016 and approved the transaction. The transaction is still subject to approval from China Securities Regulatory Commission. China Securities Regulatory Commission approved the transaction on September 25, 2017. CITIC Securities Company Limited (SHSE:600030) and Changjiang Financing Services Company Limited acted as financial advisors, An Xin Law Firm acted as legal advisor, and Ruihua Certified Public Accountants, LLP acted as accountant to Tianjin Guangyu Development Co., Ltd.