Lanzhou LS Heavy Equipment Co., Ltd (SHSE:603169) agreed to acquire Lanzhou LS Super Alloy New Materials Co., Ltd. from Lanzhou Lanshi Group Company Limited for CNY 703 million on November 17, 2023. Lanzhou LS Super Alloy New Materials Co., Ltd. reported total assets of CNY 757.15 million and net assets of CNY 550.15 million on September 30, 2023. This transaction has been reviewed and approved at the 20th meeting of the Lanzhou LS Heavy Equipment Co., ltd. fifth board of directors and the 16th meeting of the fifth board of supervisors.

The transaction still needs to be submitted to the company's shareholders' meeting for review and approval. As of December 6, 2023, Lanzhou LS Heavy Equipment Co., ltd. shareholders approved the transaction at extraordinary shareholders meeting held on December 5, 2023