Pangang Group Co., Ltd. signed share transfer agreement to acquire 7.2% stake in Yingkou Port Liability Co.,Ltd (SHSE:600317) from Yingkou Port Group Co. Ltd for CNY 1.2 billion on December 25, 2020. As per terms of transaction, Pangang Group Co., Ltd. will acquire 465.8 million shares and pay CNY 2.65 for each share of Yingkou Port Liability Co.,Ltd. Pangang Group Co., Ltd. shall transfer the 515.3 million unrestricted shares of Pangang Group Vanadium & Titanium Resources Co., Ltd. (SZSE : 000629) to Yingkou Port Group as consideration. Post completion, Yingkou Port Group Co. Ltd will hold 71.1% stake in Yingkou Port Liability Co.,Ltd Transaction is subject to approval from the State-owned Assets Supervision and Administration Commission of the State Council. As of January 20, 2021, State-owned Assets Supervision and Administration Commission of the State Council approved the deal. Pangang Group Co., Ltd. completed the acquisition of 7.2% stake in Yingkou Port Liability Co.,Ltd (SHSE:600317) from Yingkou Port Group Co. Ltd on January 21, 2021.