Binhai Xinneng announced that it has entered into an agreement for common shares on May 17, 2018. The transaction will include participation from Kunlun Energy Company Limited (SEHK:135) and Dagang Oilfield Labour Services for CNY 4,622,500 of which CNY 4,487,100 will go into registered capital and CNY 135,400 will go into capital reserve. The transaction is subject to approval of competent authority and completion of the relevant filing procedures in accordance with the requirements of the relevant laws and regulations. The company reported total assets of CNY 317,805.86, net assets of CNY 180,240.74 and total revenue of CNY 345,349.66 for the year ended December 31, 2017.