Tangshan Jidong Cement Co.,Ltd. (SZSE:000401) signed an asset acquisition agreement to acquire various majority stakes in Zhuoquan BBMG Cement Co., Ltd, Lingchuan BBMG Cement Co., Ltd., Baoding Taihang Heyi Cement Co., Ltd., Handan Shexian BBMG Cement Co.,Ltd., Qinyang BBMG Cement Co., Ltd., Lanxian BBMG Cement Co., Ltd. and Xuanhua BBMG Cement Co., Ltd. from BBMG Corporation (SEHK:2009) for CNY 1.5 billion on January 9, 2019. BBMG Corporation will sell 100% in Zhuoquan BBMG Cement Co., Ltd and Lingchuan BBMG Cement Co., Ltd., 75% in Baoding Taihang Heyi Cement Co., Ltd., 91% in Handan Shexian BBMG Cement Co.,Ltd., 86.6% in Qinyang BBMG Cement Co., Ltd., 80% in Lanxian BBMG Cement Co., Ltd. and 65% in Xuanhua BBMG Cement Co., Ltd. The deal value will be paid within 5 working days upon the transfer of the various majority stakes in Zhuoquan BBMG Cement Co., Ltd, Lingchuan BBMG Cement Co., Ltd., Baoding Taihang Heyi Cement Co., Ltd., Handan Shexian BBMG Cement Co.,Ltd., Qinyang BBMG Cement Co., Ltd., Lanxian BBMG Cement Co., Ltd. and Xuanhua BBMG Cement Co., Ltd. In a related deal, BBMG Corporation also entered into a jv company registered capital increase agreement and a termination agreement of new entrustment agreement. Completion of the deal is subject to the shareholders' approval of Tangshan Jidong Cement Co.,Ltd. and the Board approval of BBMG Corporation.

As of January 9, 2019, the transaction has been approved by the board of BBMG Corporation. Completion of the deal shall take place within 60 working days upon the execution of the agreement. The transaction is not expected to have any material adverse effect on BBMG Corporation's operating results.

First Capital Investment Banking Co., Ltd. acted as financial advisor, Jiayuan Law acted as legal advisor, and ShineWing Certified Public Accountants Co., Ltd. acted as accountant to Tangshan Jidong Cement Co.,Ltd.