Power Construction Corporation of China, Ltd (SHSE:601669) agreed to acquire 6% stake in China Water Investment Co., Ltd. from Jiangyin Changjiang Steel Pipe Co. Ltd. for CNY 430 million on December 1, 2021. The transaction still needs to be approved by the State-owned Assets Supervision and Administration Commission of the State Council. As of December 1, 2021 Power Construction Corporation of China, Ltd (SHSE:601669) board approved the deal. As of December 8, 2021, the 27th meeting of the 2nd Party Committee of Power Construction Group reviewed and approved the Group Company's Acquisition of the Equity Interests of China Water held by Power Construction Corporation of China, Lt. As of February 17, 2022, Power Construction Group received the Second Anti-Enforcement Review Decision on No Further Review of the Anti-monopoly Review on Concentration of Business Operators" issued by the State Administration for Market Regulation. As of June 24, 2022. Due to the expiration of the 180 natural days agreed in the original agreement, the 6% stake in China Water could not go through the equity transfer procedures as agreed. After negotiation and confirmation between Power Construction Group and Jiangyin Steel Pipe, the two parties agreed that the original transfer agreement was automatically terminated according to the stipulations of the original agreement. Jiangyin Changjiang Steel Pipe Co. Ltd. has returned the security amount paid for this transfer. As of November 25, 2022, the transaction is still in progress.