Shanxi Antai Group Co., Ltd. (SHSE:600408) agreed to acquire an additional 18% stake in Shanxi Xintai Fu'an New Materials Co., Ltd. from Shanxi Xintai Iron & Steel Co., Ltd. for approximately CNY 220 million on December 11, 2020. Post completion, Shanxi Antai Group Co., Ltd. will hold 46% stake and Shanxi Xintai Iron & Steel Co., Ltd. will hold 54% stake in Shanxi Xintai Fu'an New Materials Co., Ltd. As of November 30, 2020, the Shanxi Xintai Fu'an New Materials Co., Ltd. total assets is approximately CNY 1403.4 billion and approximately net asset is CNY 1209.3 billion. Transaction is subject to approval of shareholders of Shanxi Antai Group Co., Ltd. On December 28, 2020, the shareholders of Shanxi Antai Group Co., Ltd. approved the transaction in general meeting .