Shan Yu signed an equity transfer agreement to acquire 6.1% stake in Yinbang Clad Material Co., Ltd. (SZSE : 300337) from Shen Yulan for approximately CNY 300 million on June 3, 2016. Under the terms, Shan Yu will acquire 50 million shares for CNY 6.084 per share. Upon closing, Shen Yulan will hold 298.4 million shares representing 36.25% stake. Shan Yu cancelled the acquisition of 6.1% stake in Yinbang Clad Material Co., Ltd. (SZSE : 300337) from Shen Yulan on June 3, 2017.