Shanxi Meijin Energy Co.,Ltd. (SZSE:000723) won the bid to acquire 36.2% stake in Foshan Feichi Auto Manufacturing Co., Ltd. from Guangdong Foshan (Yunfu) Industrial Transfer Industrial Park Investment Development Co., Ltd. for approximately CNY 240 million on December 14, 2017. The transaction has been funded by Shanxi Meijin Energy own funds. The stake was listed for sale on Southern United Assets Equity Exchange. For the year ended December 31, 2016, Foshan Feichi Auto Manufacturing Co., Ltd. reported total assets of CNY 388.1 million, net assets of CNY 215.4 million, revenues of CNY 63.6 million and net loss of CNY 15.3 million.