Shanxi Meijin Energy Co.,Ltd. (SZSE:000723) signed a letter of intent to acquire a majority stake in Shanxi Jinzhou Chemical Co., Ltd. from Shanxi Jinzhou Coke Co.,Ltd. on October 9, 2017. Under the terms, Shanxi Meijin Energy Co.,Ltd. agreed to acquire more than 51% stake in Shanxi Jinzhou Chemical Co., Ltd. through use of self owned funds. As of October 9, 2017, Shanxi Jinzhou Chemical Co., Ltd. is 100% owned by Shanxi Jinzhou Coke Co.,Ltd. The transaction was approved by the Board of Directors of Shanxi Meijin Energy Co.,Ltd. in the 6th session of 8th directorate.