Zhejiang Julong Holding Group Limited signed the asset transfer agreement to acquire concrete water pipeline business from Zhejiang Dragon Pipe Manufacturing Co., Ltd. (SZSE:002619) on June 19, 2017. Zhejiang Julong Holding will acquire the assets according to the base price during the second round of bidding i.e. 100% of the book value of the target’s net asset. Zhejiang Julong Holding paid a total deposit amounting to CNY 50 million to Zhejiang Dragon Pipe Manufacturing on June 19, 2017 and June 20, 2017. Zhejiang Julong Holding Group Limited cancelled the acquisition of concrete water pipeline business from Zhejiang Dragon Pipe Manufacturing Co., Ltd. (SZSE:002619) on June 19, 2018.