Xiamen Tungsten Co.,Ltd. (SHSE:600549) agreed to acquire 70% stake in Chengdu Lianhong Molybdenum Co.,Ltd. from Chengdu Hongbo Industrial Co., Ltd. and A.L.M.T. Corp. for CNY 49.7 million on December 13, 2016. Xiamen Tungsten will acquire 49% stake and 21% stake in Chengdu Lianhong Molybdenum from Chengdu Hongbo Industrial Co., Ltd. and A.L.M.T. respectively. A.L.M.T. will sell 21% stake for CNY 14.9 million. During the year ended December 31, 2015, Chengdu Lianhong Molybdenum Co.,Ltd had total assets of CNY 97.38 million, total equity of CNY 97.1 million, revenue of CNY 47.09 million, and net loss of CNY 5.57 million. The meeting of the shareholders of Xiamen Tungsten will be held on December 29, 2016 to consider the transaction. The Board of Xiamen Tungsten approved the transaction. As of December 29, 2016, deal has been approved by shareholders of Xiamen Tungsten. Xiamen Tungsten Co., Ltd. (SHSE:600549) cancelled the acquisition of 70% stake in Chengdu Lianhong Molybdenum Co.,Ltd. from Chengdu Hongbo Industrial Co., Ltd. and A.L.M.T. Corp. on June 20, 2017.