Qixing Kaichuang Investment Management Co., Ltd agreed to acquire Qingdao Qixing Iron Tower Co., Ltd from Shandong Qixing Iron Tower Co., Ltd (SZSE:002359) for approximately CNY 440 million on February 23, 2016. As of December 31, 2015, Qingdao Qixing Iron Tower reported total assets of CNY 565.95 million, net assets of CNY 347.45 million and net loss of CNY 3.83 million. Qixing Kaichuang Investment Management Co., Ltd cancelled the acquisition of Qingdao Qixing Iron Tower Co., Ltd from Shandong Qixing Iron Tower Co., Ltd (SZSE:002359) on February 23, 2017.