Anhui Shanying Paper Industry Co.,Ltd. (SHSE:600567) signed the share transfer agreement to acquire Fujian Liansheng Paper Co., Ltd. from Chen Jiayu for CNY 1.9 billion on December 20, 2017. Upon completion, Anhui Shanying Paper Industry Co.,Ltd. will hold 100% stake in Fujian Liansheng Paper Co., Ltd. For the year ended December 31, 2016, Fujian Liansheng Paper Co., Ltd. reported total assets of CNY 3.1 billion, net assets of CNY 177.3 million, revenue of CNY 1.9 billion, operating profits of CNY 16.9 million and net profit of CNY 23.8 million. The transaction is subject to approval from shareholders of Anhui Shanying Paper Industry Co.,Ltd. in a meeting to be held on January 5, 2018. The Board of Anhui Shanying Paper Industry Co.,Ltd. approved the transaction. On January 5, 2018, the transaction was approved by the shareholders of Anhui Shanying Paper Industry Co.,Ltd. Anhui Shanying Paper Industry Co.,Ltd. (SHSE:600567) completed the acquisition of Fujian Liansheng Paper Co., Ltd. from Chen Jiayu on January 22, 2018.