Dingli Construction Group Co., Ltd. signed an agreement to acquire 45% stake in Shandong Zhongkai Rare Earth Materials Co., Ltd. from Shanghai Dingli Technology Development (Group) Co., Ltd. (SHSE:900907) for CNY 21.5 million on November 3, 2016. In related deals, Dingli Holding Group Co., Ltd. agreed to acquire 65% stake in Guangxi Dingli Rare Earth New Materials Industrial Park Management Co., Ltd., 100% stake in Guangxi Dingli Rare Earth New Materials Technology Co., Ltd., 10% stake in, Guangxi Non-ferrous Metals Group Wuzhou Rare Earth Development Co., Ltd. and 41% stake in Zhejiang CNEEC Equipment Co., Ltd. for CNY 28 million, CNY 88 million, CNY 12 million, and CNY 33.8 million, respectively. For the year ended December 31, 2015, Shanghai Dingli Technology Development (Group) Co., Ltd. reported total assets of CNY 354.9 million, net assets of CNY 43.7 million, revenues of CNY 27.58 million and net loss of CNY 6.31 million. The deal is approved by the board of directors and is subject to further approval from shareholders of Shanghai Dingli Technology Development (Group) Co., Ltd. As of November 21, 2016, the transaction was approved by the shareholders of Shanghai Dingli Technology Development (Group) Co., Ltd. Dingli Construction Group Co., Ltd. completed the acquisition of 45% stake in Shandong Zhongkai Rare Earth Materials Co., Ltd. from Shanghai Dingli Technology Development (Group) Co., Ltd. (SHSE:900907) on January 4, 2018.