Baoding Qiande Trading Company Limited and Baoding Qianyao Trading Company Limited agreed to acquire Hunan Zhongwei Construction Engineering Co., Ltd. from Hebei Construction Group Corporation Limited (SEHK:1727) for CNY 101 million on May 20, 2024. The consideration consists of CNY 101 million in cash. As part of the consideration, CNY 101 million was paid towards common equity.

The deal is subject to approval from regulatory board.