Guanghui Energy Co., Ltd. (SHSE:600256) agreed to acquire a 60% stake in Yiwu Guanghui Energy Development Co., Ltd. from Xinjiang Guanghui Industry Investment (Group) Co., Ltd. for CNY 1.8 billion on April 9, 2018. For the year ended December 31, 2017, Yiwu Guanghui Energy Development Co., Ltd. had total assets of CNY 462.87 million, net assets of CNY 434.48 million, revenue of CNY 0.29 million and net loss of CNY 2.98 million. The transaction is subject to the approval of the shareholders of Guanghui Energy Co., Ltd. and was approved by its Board of Directors in the 9th meeting of 7th directorate held on April 9, 2018.