Zhejiang Honglei Copper Industry Holdings Co., Ltd. agreed to acquire Jiangsu Dongzhu Landscape Construction Co., Ltd. from Xi Huiming and 26 other individual persons and Shanghai Fosun Chuanghong Equity Investment fund LP, managed by Tibet Fosun and 4 other corporate entities for CNY 2.2 billion in cash and stock on January 21, 2015. Zhejiang Honglei Copper Industry will issue 156.8 million shares and pay cash of CNY 903 million as consideration. The 26 other individual persons are Pu Jianfen, Xi Shengchao, Xi Xiaoyan, Mou Chunxiao, Zhang Jianliang, Zhu Liang, Hua Qunshi, Zhu Zhengzhong, Chen Qinxin, Xi Xiaofei, Su Wei, Qian Yaping, Tang Xiaoye, Lu Jiansheng, Yao Jianguo, Xu Tian, Shi Jie, Li Jiajun , Zhu Qingsheng, Yu Mingwei, Jin Heming, Wang Rongchun, Dai Yi, Xing Shiping, Wang Zhangying, Bao Yancheng and 4 other corporate entities are Tibet Hengshi Investment Co., Ltd., Shanghai Jingda Venture Capital (LP), Haitong Kaiyuan Investment Co., Ltd. and Shanghai Guosheng Guxian Venture Investment Partnership (LP). Zhejiang Honglei plans to raise CNY 530 million through a non-public offering of which CNY 400 million will be used to pay the cash consideration.

The transaction is subject to the approval of shareholders of Zhejiang Honglei Copper Industry Holdings and approval of China Securities Regulatory Commission. The transaction was approved by Board of Directors of Zhejiang Honglei Copper Industry Holdings on January 21, 2015. New Times Securities Co., Ltd and Northeast Securities Co., Ltd. acted as financial advisors for Zhejiang Honglei Copper Industry.

Zhejiang Honglei Copper Industry Holdings Co., Ltd. cancelled the acquisition of Jiangsu Dongzhu Landscape Construction Co., Ltd. from Xi Huiming and 26 other individual persons and Shanghai Fosun Chuanghong Equity Investment fund LP, managed by Tibet Fosun and 4 other corporate entities on May 24, 2015.