Shanxi Coal Agricultural Development Co., Ltd. signed an agreement to acquire Shanxi Coal International Energy Group Xinzhou Co., Ltd. from Shanxi Coal International Energy Group Co.,Ltd (SHSE:600546) for CNY 7.3 million on May 23, 2017. In a related deal, Shanxi Coal Non-ferrous Metal Group Co., Ltd. agreed to acquire Shanxi Coal International Energy Group Huanan Co., Ltd. from Shanxi Coal International Energy Group Co., Ltd for CNY 1. For the year ended December 31, 2016, Shanxi Coal International Energy Group Xinzhou Co., Ltd. reported total assets of CNY 120.4 million, revenues of CNY 5.7 million, net loss of CNY 14.1 million and net assets of CNY 3 million. The Board of Directors of Shanxi Coal International Energy Group Co.,Ltd approved the deal on May 23, 2017. The deal requires further approval from shareholders of Shanxi Coal International Energy Group Co.,Ltd. As on June 14, 2017, shareholders approval is still pending. The transaction has been approved by the shareholders of Shanxi Coal International Energy Group Co.,Ltd. on June 30, 2017.