In September 2016, Groupeve and Sunewell announced that they had signed a definitive merger agreement, with a total valuation of Sunewell of US $ 120 million, and a total income to Sunewell shareholders of up to US $ 50 million. Groupeve’s acquisition of Sunewell and the completion of the merger will produce the country’s second-largest aluminum manufacturer, occupying more than a quarter of the country’s roller shutter aluminum tube and aluminum shutter market. The two parties have negotiated and decided on the current foreign agents and channel distributors. It is expected that all business handovers will be completed before December 2019. From January 1, 2020, all products generated by Sunewell will be exported to abroad by “Sichuan Groupeve Co., Ltd” company name.