The management team of Shandong Ruifu Lithium Industry Co., Ltd. signed an agreement to acquire 6.09% stake in Shandong Ruifu Lithium Industry Co., Ltd. from MeiDu Energy Corporation (SHSE:600175) recently. In related transaction, the management team of Shandong Ruifu Lithium Industry Co., Ltd. signed an agreement to acquire 50.23% stake in Shandong Ruifu Lithium Industry Co., Ltd. from MeiDu Energy Corporation (SHSE:600175) recently. The consideration paid for both the transaction was CNY 606.94 million. Post completion, MeiDu Energy will hold 14.86% in Shandong Ruifu Lithium Industry. The transaction was approved by the board of MeiDu Energy on the 23rd session of the 9th directorate meeting and 12th session of the 9th supervisory board meeting held on March 19, 2019. The management team of Shandong Ruifu Lithium Industry Co., Ltd. cancelled the acquisition of 6.09% stake in Shandong Ruifu Lithium Industry Co., Ltd. from MeiDu Energy Corporation (SHSE:600175) on April 8, 2019.