Fujian Cement Inc. (SHSE:600802) and Fujian Building Materials (Holdings) Co., Ltd. signed a transaction contract to acquire 50% in Fujian Jianfu South Cement Co., Ltd. from South Cement Company Limited for approximately CNY 630 million on December 27, 2019. As per terms, Fujian Cement Inc. will acquire additional 30% for CNY 379.7 million and Fujian Building Materials (Holdings) Co., Ltd. will acquire 20% or CNY 253.1 million after winning the bid. The Board of Directors of Fujian Cement Inc. approved the deal. Fujian Cement Inc. (SHSE:600802) and Fujian Building Materials (Holdings) Co., Ltd. cancelled the acquisition of 50% in Fujian Jianfu South Cement Co., Ltd. from South Cement Company Limited on December 27, 2020.