Jizhong Energy Resources Co., Ltd (SZSE:000937) signed an agreement to acquire 15.3% in North China Pharmaceutical Company Ltd. (SHSE:600812) from Jizhong Energy Group Co.,Ltd. for CNY 1.6 billion on September 19, 2016. Under the terms, 250 million shares will be acquired at CNY 6.48 per share. The consideration comprises cash component of CNY 1.2 billion and asset and liabilities of Jizhong Energy's Zhangcun Mine, Xiandewang Mine, Taoyi Mine worth CNY 400 million. The deal is subject to approval from shareholders of State-owned Assets Supervision and Administration Commission of Hebei Provincial Government and Jizhong Energy Resources Co., Ltd to be held on October 10, 2016. The transaction needs to be approved by the State-owned Assets Supervision and Administration Commission of the State Council. As on October 9, 2016, the transaction has been approved by the State-owned Assets Supervision and Administration Commission of Hebei Provincial Government. On December 16, 2016, the Company received approval from the State-owned Assets Supervision and Administration Commission.

Jizhong Energy Resources Co., Ltd (SZSE:000937) completed the acquisition of 15.3% in North China Pharmaceutical Company Ltd. (SHSE:600812) from Jizhong Energy Group Co.,Ltd. on January 3, 2017.