Beijing Huaxin Hengyi Management Consulting Partnership Enterprise (Limited Partnership) and Wang Hao intends to acquire Jinglong Energy Saving Building Material Co., Ltd. from Taikong Intelligent Construction Co., Ltd. (SZSE:300344) and Beijing Simande Building Materials Technology Development Co., Ltd. for CNY 43.6 million on September 12, 2019. Beijing Huaxin Hengyi Management Consulting Partnership Enterprise will acquire 99% stake in Jinglong Energy Saving Building Material Co. from Taikong Intelligent Construction Co. for CNY 43.2 million and Wang Hao will acquire 1% stake in Jinglong Energy Saving Building Material Co. from Beijing Simande Building Materials Technology Development Co., Ltd. for CNY 0.44 million. Under the terms, 5% of the transactional price must be paid within 20 days since signing of the respective transfer agreement. By December 31, 2019, Beijing Huaxin Hengyi Management Consulting Partnership Enterprise must have paid not less than 50% of the transactional price. The completion of the payment should be done before June 30, 2020. As on September 1, 2020, sellers received part of the equity transfer payment from buyers totalling CNY 222.2 million, accounting for 50.8% of equity transfer. As of December 21, 2020, Beijing Huaxin paid the remaining CNY 21 million consideration. As of December 31, 2018, Jinglong Energy Saving Building Material reported total assets of CNY 72.56 million, total common equity of CNY 29.47 million, negative EBIT of CNY 1.9 million and net loss of CNY 1.87 million. The transaction was approved by the board of the directors of Taikong Intelligent Construction Co., Ltd. on the 14th meeting of the 7th directorate. Beijing Huaxin Hengyi Management Consulting Partnership Enterprise (Limited Partnership) and Wang Hao completed the acquisition of Jinglong Energy Saving Building Material Co., Ltd. from Taikong Intelligent Construction Co., Ltd. (SZSE:300344) and Beijing Simande Building Materials Technology Development Co., Ltd. on December 21, 2020.