On 27 Sept., 2017, Hubei Xingfa Chemicals Group Co., Ltd. (Hubei Xingfa) published a notice saying that it plans to acquire no less than 51% shares of Inner Mongolia Tenglong Biological Fine Chemicals Co., Ltd. (Inner Mongolia Tenglong) with cash after reaching an agreement with its controlling shareholder, Hubei Xiantao Xianlong Chemical Industry Co., Ltd. (Xianlong Chemical)

According to the 2015 annual report of Hubei Xingfa Chemicals Group Co., Ltd. (Hubei Xingfa), in the report period, the company earned a revenue of USD1.9 billion, up by 8.8% year on year; its net profit attributable to its shareholders hit USD12.0 million, dropping by 84.4% year on year; its revenue from the glyphosate business reached USD215.1 million, soaring by 167.5% year on year; its gross margin rate was 14.9%, down by 21.7 percentage points.

On 26 Jan., 2015, Hubei Xingfa Chemicals Group Co., Ltd. (Hubei Xingfa, a phosphorous enterprise engaged in glyphosate production) released its 2014 performance prediction, according to which, its 2014 net profit would go up by 680%-730% year on year. The company’s net profit in 2013 was USD9.9 million.