An unknown buyer agreed to acquire COSCO Hengxin Industrial Group Co., Ltd. from Rongyu Group Co., Ltd. (SZSE:002622) for CNY 49.7 million on April 4, 2019. For the year ended December 31, 2018, COSCO Hengxin Industrial reported revenues of CNY 43.1 million, operating loss of CNY 48.3 and net loss of CNY 55.2 million. As of December 31, 2018, COSCO Hengxin Industrial reported total assets of CNY 62.2 million and net assets of CNY 49.7 million. The transaction needs to be approved by Rongyu Group's 3rd special shareholders’ meeting for 2019. The 25th session of 4th directorate of Rongyu Group approved the transaction on April 4, 2019. An unknown buyer cancelled the acquisition of COSCO Hengxin Industrial Group Co., Ltd. from Rongyu Group Co., Ltd. (SZSE:002622) on April 4, 2020.