Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd. (SHSE:600704) agreed to acquire 9.6% stake in Zhejiang Materials Industry International Co., Ltd. from Blazing Speed Investment Limited for approximately CNY 150 million on February 9, 2015. As part of the consideration, Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd. will issue 16.7 million shares for CNY 8.86 per share. The transaction is subject to approval by shareholders of Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd. Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd.'s Board of Directors approved the transaction. As of On April 29, 2015, Zhejiang Materials Industry Group recently received State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province's approval. As of May 7, 2015, the transaction was approved by shareholders of Zhejiang Material Industrial Zhongda Yuantong Group. China Securities Regulatory Commission approved the transaction on July 23, 2015. Guotai Junan Securities Co., Ltd. and J.P. Morgan First Capital Securities Co. Ltd. acted as financial advisor to Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd. King & Wood Mallesons, China acted as the legal advisor for Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd.

Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd. (SHSE:600704) completed the acquisition of 9.6% stake in Zhejiang Materials Industry International Co., Ltd. from Blazing Speed Investment Limited on October 13, 2015.