China Jushi Co., Ltd. agreed to acquire 10.6% stake in Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd. from China Composites Group Corporation Ltd. for CNY 305 million.

CHINA JUSHI CO., LTD., formerly CHINA FIBERGLASS CO., LTD, is a China-based company principally engaged in the research and development, manufacture and distribution of fiberglass and related products. The Company's major product is glass fiber yarn. The Company also provides complex fiber products, yarns for high-performance wind power and oil high pressure pipes. Its products are applied in aerospace, construction, transportation, industrial equipment, wind power generation and other areas. The Company distributes its products in domestic and overseas markets.