Hunan Valin Steel Co.,Ltd. (SZSE:000932) agreed to acquire Hunan Valin Energy Saving Power Generation Co., Ltd. from Hunan Valin Iron & Steel Group Co., Ltd. on July 13, 2015. Hunan Valin Steel plans to issue 927 million shares to ten designated investors at CNY 4.53 per share via private placement and intends to use part of the raised funds of the non-public issuance of shares for the acquisition. The acquisition was approved by Board of Directors of Hunan Valin Steel on July 13, 2015. As on July 23, 2015, the transaction was approved by the shareholders of Hunan Valin Steel Co., Ltd. Hunan Valin Steel Co.,Ltd. (SZSE:000932) cancelled the acquisition of Hunan Valin Energy Saving Power Generation Co., Ltd. from Hunan Valin Iron & Steel Group Co., Ltd. on August 29, 2016.