Former chairman of China Rongsheng Heavy Industries sells shares to present chairman and ceo

On 24 January 2013, Fine Profit agreed to sell to Boom Will an aggregate of 490,000,000 shares of China Rongsheng Heavy Industries, representing approximately 7.0% of the issued share capital, at a total consideration of HK$820,260,000, representing HK$1.674 per share, according to media release.
Fine Profit agreed to transfer 800,000,000 shares (representing approximately 11.43% of the issued share capital) to Gallop Sun Limited.
Prior to the completion transfer, Fine Profit was the controlling shareholder of the company and wholly-owned by Mr. Zhang Zhi Rong.