Jiangsu Fasten Road and Bridge Technology Co., Ltd. signed an equity transfer agreement to acquire 60% stake in Jiangsu Fasten Lansuo Limited Company from Jiangsu Fasten Company Limited (SZSE:000890) for approximately CNY 110 million on October 29, 2017. Out of the total consideration, 30% of the purchase price will be paid within 30 days since enter into force of the transfer agreement, another 30% will be paid within 60 days since enter into force of the transfer agreement and remaining 40% will be paid within 90 days since enter into force of the transfer agreement. In related transactions, Jiangsu Fasten Road and Bridge Technology Co., Ltd. signed equity transfer agreements to acquire 60% stake in Jiangsu Donggang Metal Products Co., Ltd. from Jiangsu Fasten Company Limited for CNY 82.8 million and 70% stake in Jiangyin Fasten Shengdian New Material Co., Ltd. from Jiangsu Fasten Company Limited for CNY 19.6 million on October 29, 2017. The transaction has been approved by the Board of Directors of Jiangsu Fasten Company Limited during the 7th session of the 9th meeting. On November 15, 2017, the shareholders of Jiangsu Fasten Company Limited approved the deal in 4th Extraordinary General Meeting.