Chen Qiang, Chairman and Chief Executive Officer of China Rongsheng Heavy Industries Group Holdings Limited entered into a share transfer agreement to acquire 7% stake in China Rongsheng Heavy Industries Group Holdings Limited (SEHK:1101) from Fine Profit Enterprises Limited for approximately HKD 820 million on January 24, 2013. Zhang Zhi Rong will pay HKD 1.674 per Share of China Rongsheng Heavy Industries Group Holdings Limited.