Suzhou Tsing Chuang Trading Group Co., Ltd. signed a share transfer to agreement to acquire 9.33% stake in Northeast Electric Development Co., Ltd. (SEHK:42) from New Northeast Electric Investment Co., Ltd for approximately CNY 800 million on December 21, 2015. As per the terms of the deal, Suzhou Tsing Chuang Trading will acquire 81.49 million non-restricted class A-shares of Northeast Electric Development at a transfer price of CNY 9.82 per share.

Suzhou Tsing Chuang Trading Group Co., Ltd. completed the acquisition of 9.33% stake in Northeast Electric Development Co., Ltd. (SEHK:42) from New Northeast Electric Investment Co., Ltd on January 22, 2016.