Hebei Expressway Group Limited agreed to acquire 56.04% stake in HeBei Jinniu Chemical Industry Co.,Ltd (SHSE:600722) from Jizhong Energy Resources Co., Ltd. (SZSE:000937) for CNY 2.3 billion on October 14, 2022. The transaction is subject to, HeBei Jinniu Chemical Industry board and shareholders approval, Hebei State-owned Assets Supervision and Administration Commission, Hebei Expressway Group Limited board approval. As of October 14, 2022, HeBei Jinniu Chemical Industry Co.,Ltd board approved the deal. On November 7, 2022, the transaction has been approved at the fourth extraordinary general meeting of Jizhong Energy. As of November 4, 2022, the transaction is approved by State-owned Assets Supervision and Administration Commission of the Hebei Provincial People's Government. Liu Hequn and Liang Jiang of Everbright Securities Co., Ltd acted as a financial advisor to Hebei Expressway Group Limited

Hebei Expressway Group Limited completed the acquisition of 56.04% stake in HeBei Jinniu Chemical Industry Co.,Ltd (SHSE:600722) from Jizhong Energy Resources Co., Ltd. (SZSE:000937) on February 13, 2023.