China Master Logistics Co., Ltd. (SHSE:603967) made an offer to acquire Sinochem Tianjin Binhai Logistic Corp. on August 12, 2020. China Master Logistics Co., Ltd. (SHSE:603967) won a bid to acquire Sinochem Tianjin Binhai Logistic Corp. for approximately CNY 170 million on September 1,2020. As of December 31, 2019, had total assets of CNY 95.1 million, net assets of of CNY 90.2 million, operating loss of CNY 11.7 million, operating revenue of CNY 5.1 million, and net loss of CNY 12.5 million. The Board of Directors of China Master Logistics Co., Ltd. reviewed and approved the transaction.