Qingdao Evercontaining Electric Co.,Ltd (SZSE:300208) agreed to acquire Hebei Canghai Heavy Industry Co., Ltd. for approximately CNY 470 million in cash and stock on May 27, 2013. As part of the consideration for 99% stake Qingdao Evercontaining Electric will issue 64.5 million shares at CNY 7.03 per share and for the 1% stake the consideration of CNY 4.7 million will be paid in cash. The cash component of the consideration will be funded from the 24.5 million shares at no less than CNY 6.33 per share which amounts to CNY 155 million. For the year ended December 31, 2012, Hebei Canghai Heavy reported operating income of CNY 497 million, total assets of CNY 709 million, net assets of CNY 375 million and net income of CNY 47.41 million.

Qingdao Evercontaining Electric Co.,Ltd (SZSE:300208) cancelled the acquisition to acquire Hebei Canghai Heavy Industry Co., Ltd on October 28, 2013. The transaction was cancelled because of dispute in the negotiation.