Sichuan Desheng Group Iron&Steel Co., Ltd. won an auction to acquire 99.8% stake in Sichuan Shengda Coking & Chemical Co., Ltd. from Great Wall International ACG Co., Ltd. (SZSE:000835) for CNY 130 million on August 24, 2016. As of October 28, 2016, the agreement for the transaction was signed. The transaction was carried out through an auction at the Zhejiang Property Rights Exchange. Sichuan Shengda Coking & Chemical reported total assets of CNY 269.65 million, owner’s equity of CNY 186.1 million, revenues of CNY 205.52 million, and net losss of CNY 39.83 million for the year ending December 31, 2015. Northeast Securities Co., Ltd. acted as independent financial advisor and Tianhe Law Office acted as legal advisor to Great Wall International ACG Co., Ltd. The transaction is subject to shareholders’ approval of Great Wall International ACG Co., Ltd. Sichuan Desheng Group Iron&Steel Co., Ltd. completed the acquisition of 99.8% stake in Sichuan Shengda Coking & Chemical Co., Ltd. from Great Wall International ACG Co., Ltd. (SZSE:000835) on December 21, 2016.