Hebei Baoshuo Co.,Ltd. (SHSE:600155) entered into a framework agreement to acquire Gansu Xinchuan Chemical Co Ltd. from Jinping Tianhui Investment Co., Ltd., Deyang Maoyuan Industrial Co., Ltd., Newhope Chemicals Investment Co., Ltd., Li Wei, Liu Chang and Wang Shouqin on January 4, 2011. In a related transaction, Hebei Baoshuo Co.,Ltd. agreed to acquire Chengdu Huarong Chemical Co., Ltd. from Newhope Chemicals Investment Co., Ltd. on January 4, 2011. Under the terms of the agreement, Hebei Baoshuo Co.,Ltd. will issue 420 million new shares of Hebei Baoshuo Co.,Ltd. for the acquisition of both Gansu Xinchuan Chemical Co Ltd. and Chengdu Huarong Chemical Co., Ltd. The deal is resolved by the Board of Hebei Baoshuo Co.,Ltd. on January 4, 2011. As of July 15, 2011, the transaction has been approved by the shareholders of Hebei Baoshuo Co.,Ltd.

On June 21, 2012, Hebei Baoshuo's Directors approved the shareholders' meeting to extend validity term of resolution and to extend term of authorizing Directorate to handle issues about assets purchase through shares issuance. Hebei Baoshuo plans to hold the 1st special shareholders' meeting on July 9, 2012 to discuss the transaction.

Hebei Baoshuo Co.,Ltd. (SHSE:600155) cancelled the acquisition of Gansu Xinchuan Chemical Co Ltd. from Jinping Tianhui Investment Co., Ltd., Deyang Maoyuan Industrial Co., Ltd., Newhope Chemicals Investment Co., Ltd., Li Wei, Liu Chang and Wang Shouqin on January 9, 2013.