China Minmetals Co. Ltd, Changsha Research Institute of Mining & Metallurgy Co., Ltd and Minmetals Innovation Investment Co., Ltd agreed to acquire Hunan Changyuan Lico Co., Ltd. and Jinchi Energy Material Co., Ltd. from Minmetals Capital Company Limited (SHSE:600390) on September 27, 2017. China Minmetals Co. Ltd, Changsha Research Institute of Mining & Metallurgy Co., Ltd and Minmetals Innovation Investment Co., Ltd. signed an asset sale agreement to acquire Hunan Changyuan Lico Co., Ltd. and Jinchi Energy Material Co., Ltd. from Minmetals Capital Company Limited on September 29, 2017. In a related transaction, Changsha Research Institute of Mining & Metallurgy Co., Ltd. agreed to acquire 100% in 3 Companies, 60% stake in Guizhou Jingui Mining Co.,Ltd. and New Materials Business Division from Minmetals Capital Company Limited. The total share transfer price for both the transactions together is CNY 1.5 billion. As of December 31, 2016, Hunan Changyuan Lico and Jinchi Energy Material had total assets of CNY 1.1 billion, total shareholders’ equity of CNY 389 million, operating revenue of CNY 1.2 billion, operating profit of CNY 58 million and net profit of CNY 56 million. The board of Minmetals Capital Company Limited approved the transaction in its 7th directorate’s 7th meeting on September 29, 2017. The transaction was approved by shareholders of Minmetals Capital Company Limited at the 5th Extraordinary General Meeting of 2017 on October 25, 2017. China Minmetals Co. Ltd, Changsha Research Institute of Mining & Metallurgy Co., Ltd and Minmetals Innovation Investment Co., Ltd cancelled the acquisition of Hunan Changyuan Lico Co., Ltd. and Jinchi Energy Material Co., Ltd. from Minmetals Capital Company Limited (SHSE:600390) on September 27, 2018.