Zhongjin Gold Corp., Ltd. (SHSE:600489) agreed to acquire 60.98% in Henan Zhongyuan Gold Smelter Co., Ltd. from a group of sellers for approximately CNY 5.6 billion on May 22, 2019. Group of seller includes Beijing Dongfu Guochuang Investment Management Centre (Limited Partnership), ABC Financial Asset Investment Co., Ltd., Guoxin Yangqi Operation (Guangzhou) Investment Fund (L.P.), fund managed by Guoxin Yangqi Operation Investment Fund Management (Guangzhou) Co., Ltd., China Guoxin Asset Management Co., Ltd. and Henan Zhongxin Private Equity Investment Fund (Limited Partnership), fund managed by BOC Asset Investment Fund Management Co., Ltd. Under the terms of the transaction, China Guoxin Asset Management will sell its 13.26% stake in return for 153.2 million shares of Zhongjin Gold, Guoxin Yangqi Operation (Guangzhou) Investment Fund (L.P.) will sell its 13.26% stake in return for 153.2 million shares of Zhongjin Gold, Henan Zhongxin Private Equity Investment Fund will sell its 21.21% stake in return for 245.1 million shares of Zhongjin Gold, Beijing Dongfu Guochuang Investment Management Centre will sell 6.63% stake in in return for 76.6 million shares of Zhongjin Gold and ABC Financial Asset Investment will sell its 6.63% stake in return for 76.6 million shares of Zhongjin Gold. As on August 29, 2019, the deal terms revised. Zhongjin Gold Corp., Ltd. will now acquire the stake for CNY 6.9 billion. The number of consideration shares changed to 706.8 million. Henan Zhongyuan Gold Smelter had total assets of CNY 15.4 billion and net assets of CNY 6.8 billion as of December 31, 2018. For the year ending December 31, 2018, Henan Zhongyuan Gold Smelter had revenue of CNY 24.7 billion and net profit of CNY 354.7 million. The transaction is subject to Zhongjin Gold's evaluation report of the subject matter of this transaction being filed by the State-owned Assets Supervision and Administration Commission of the State Council, approval by the State-owned Assets Supervision and Administration Commission of the State Council, approval by the shareholders of Zhongjin Gold and approval by the China Securities Regulatory Commission. The transaction was approved by the Board of Directors and Board of Supervisors of Zhongjin Gold Corp. as on December 26, 2018 and May 22, 2019. The transaction plan has been approved in principle by the State-owned Assets Supervision and Administration Commission of the State Council. On June 27, 2019, the shareholders of Zhongjin Gold Corp., Ltd approved the deal. As on August 28, 2019, the internal decision-making bodies of the transaction counterparties approved the deal. As of November 9, 2019, transaction plan has been approved by the State-owned Assets Supervision and Administration Commission of the State Council. The deal is approved by the China Securities Regulatory Commission for the issuance of shares on January 7, 2020. Wang Ling, Li Li, Jiang Wenxiang, Bao Xiang, Luo Feng, Wu Yulu, Hu Sihan, Meng Dewang, Zhang Minghui and Lin Jiawei of CITIC Securities Company Limited acted as financial advisors, Zhang Gang, Dao Rina and Chen Lingling of Dacheng Law Offices acted as legal advisors and Wang Minghui and Li Ming of Zhongxinghua Certified Public Accountants LLP acted as accountants for Zhongjin Gold Corp., Ltd. Zhongjin Gold Corp., Ltd. (SHSE:600489) completed the acquisition of 60.98% in Henan Zhongyuan Gold Smelter Co., Ltd. from a group of sellers on April 3, 2020. Zhongjin Gold now holds 100% stake in Henan Zhongyuan Gold Smelter.