Sinochem International Corporation (SHSE:600500) agreed to acquire Sinochem Qingdao Co., Ltd. from Sinochem Corporation and Beijing Sinochem Jinqiao Trade Co., Ltd. for approximately CNY 260 million on December 12, 2017. Sinochem Corporation will sell 80% stake and Beijing Sinochem Jinqiao Trade Co., Ltd. will sell 20% stake in Sinochem Qingdao Co., Ltd. The transaction is approved by the Board of Sinochem International Corporation in the 12th session of 7th directorate on December 12, 2017. The shareholders of Sinochem International Corporation approved the transaction in its 4th special shareholders' meeting of 2017 on December 28, 2017. Sinochem International Corporation (SHSE:600500) cancelled the acquisition of Sinochem Qingdao Co., Ltd. from Sinochem Corporation and Beijing Sinochem Jinqiao Trade Co., Ltd. on December 12, 2018.