Liaocheng State-owned Assets Supervision and Administration Commission signed an agreement last year to transfer 6.01% shares of Luxi Group to Sinochem for free. On March 20, Luxi Group announced new progress in the share transfer, declaring that the share transfer passed related antitrust probes in both China and South Korea. In detail, the State Administration for Market Regulation of China decided not to further investigate the share transfer, which was deemed by South Korea to be in line with its Laws on Monopoly and Fair Transaction.