Tangshan Jidong Cement Co.,Ltd. (SZSE:000401) agreed to acquire 47.09% stake in BBMG Jidong Cement (Tangshan) Company Limited for CNY 13.6 billion on March 31, 2021. Tangshan Jidong Cement will acquire 47.09% stake in BBMG Jidong Cement (Tangshan) Co., Ltd. by issuing shares to BBMG Corporation and will merge by absorption. Based on the issue price of CNY 12.78 per share, the quantity of shares issued by Jidong Cement to BBMG Corporation in the Merger is 1,066 million shares. The final quantity of shares to be issued is subject to the approval of the general meeting of shareholders of Jidong Cement and should be approved by CSRC. After the merger by absorption, Tangshan Jidong Cement will be the surviving party and will inherit all assets, liabilities, employees, businesses, contracts, rights and obligations of the target company. BBMG Jidong Cement (Tangshan) Company reported total assets of CNY 4.2 million, total common equity of CNY 2.7 million as of February 28, 2021. The deal is subject to approval from BBMG Jidong Cement (Tangshan) Company's shareholder, Tangshan Jidong Cement Co's shareholder, CSRC and Assets Supervision and Administration Commission of Beijing and that of China Securities Regulatory Commission. The transaction was approved by the board of directors of Tangshan Jidong Cement Co., Ltd. and BBMG Jidong Cement (Tangshan) Company Limited. On June 25, 2021, Tangshan Jidong Cement will raise supporting funds of not more than CNY 5 billion by issuing shares to not more than 35 investors including Beijing State-owned Capital Operation and Management Center. Beijing State-owned Capital Operation and Management Center will subscribe for not more than CNY 500 million. 2nd Meeting of the Sixth Session of the Board of Directors of BBMG Corporation considered and approved the Resolution on Matters Related to Tangshan Jidong Cement Co., Ltd.'s Merger of BBMG Jidong Cement (Tangshan) Co., Ltd. On November 3, 2021, the transaction was approved by China Securities Regulatory Commission. First Capital Securities Underwriting Sponsor Co., Ltd. and CITIC Securities Company Limited (SHSE:600030) acted as financial advisors, Haiwen & Partners acted as legal advisor and ShineWing Certified Public Accountants Co., Ltd. acted as accountant for Tangshan Jidong Cement. Tangshan Jidong Cement Co.,Ltd. (SZSE:000401) completed the acquisition of 47.09% stake in BBMG Jidong Cement (Tangshan) Company Limited on November 15, 2021.