Shanxi Meijin Energy Co.,Ltd. (SZSE:000723) signed a framework agreement to acquire Shanxi Meijin Group Jinfu Coal Industry Co., Ltd. from Meijin Energy Group Co., Ltd., Yao Junjie, and Zhang Jie for CNY 2 billion on November 9, 2017. The mode of payment is cash. The final transaction price will be determined through parties’ negotiation. Shanxi Meijin Energy Co.,Ltd. (SZSE:000723) signed a share transfer agreement to acquire Shanxi Meijin Group Jinfu Coal Industry Co., Ltd. from Meijin Energy Group Co., Ltd., Yao Junjie, and Zhang Jie for CNY 2 billion on June 12, 2018. The acquisition price has been fixed from CNY 1.959 billion earlier to CNY 1.967 billion. Meijin Energy Group Co., Ltd. will sell 82.11% stake, Yao Junjie will sell 8.95% stake, and Zhang Jie will sell 8.94% stake. Shanxi Meijin Energy Co.,Ltd. will use self-owned funds or self-financed funds for the acquisition. For the year ended December 31, 2016, Shanxi Meijin Group Jinfu Coal Industry Co., Ltd. reported total assets of CNY 3 billion, operating loss of CNY 9 million, net loss of CNY 12.2 million and net assets of CNY 381.2 million. This transaction has been approved at the Shanxi Meijin Energy Co.,Ltd.’s 8th session of the 8th directorate. This certain matters related to this transaction need to be re-approved at the Shanxi Meijin Energy Co.,Ltd.’s directorate. This transaction needs approval from the shareholder’s meeting of Shanxi Meijin Energy Co.,Ltd. The said transaction has already been approved by the Shanxi Provincial Governor in its office meeting and approved by Shanxi Meijin Energy’s shareholders in their 2nd extraordinary general meeting of 2018.