Hengyi Petrochemical Co., Ltd. (SZSE:000703) agreed to acquire Guangxi Hengyi New Materials Co., Ltd. from Ningbo Jingren Investment Co., Ltd. for approximately 510 million on July 9, 2020. For the year ending December 31, 2019, Guangxi Hengyi New Materials Co., Ltd. reported total assets of CNY 520.96 million, net assets of CNY 499.73 million, revenues of CNY 0, operating loss of CNY 0.27 million and net loss of CNY 0.27 million. This has been approved in the Meeting of Hengyi Petrochemical Co., Ltd.’s Directorate held on July 9, 2020.