ABA Chemicals Corporation (SZSE:300261) agreed to acquire 51% stake in Anyang Aierwang New Energy Environmental Co Ltd from Wang ZhiXi, Ma Shuanghua, Sun Xiaoying, Li Xingwen, Qu Songhua, Anyang Xinghe Environmental Technology Service Center (Limited Partnership) for approximately CNY 240 million on December 25, 2017. ABA Chemicals Corporation plans to use its own funds of CNY 15 million to carry out a capital increase in Anyang Aierwang New Energy Environmental Co Ltd, of which, CNY 0.69 million will be added as registered capital, CNY 14.3 million will be added as capital reserve. After the capital increase, Anyang Aierwang New Energy Environmental Co Ltd’s registered capital will increase from CNY 20.77 million to CNY 21.5 million. At the same time, ABA Chemicals Corporation plans to use its own funds of CNY 222.2 million to acquire 47.77 % stake in Aierwang (after capital increase) from Wang ZhiXi, Ma Shuanghua, Sun Xiaoying, Li Xingwen, Qu Songhua, Anyang Xinghe Environmental Technology Service Center (Limited Partnership). Wang Zhixi, Ma Shuanghua, Sun Xiaoying, Li Xingwen, Qu Songhua and Anyang Xinghe Environmental Technology Service Center (Limited Partnership) will continue to own 18.9%, 9.3%, 8.7%, 5.1% and 1.8% stake in Anyang Aierwang New Energy Environmental Co Ltd post transaction completion. Anyang Aierwang New Energy Environmental Co Ltd reported total assets of CNY 164.9 million, total owner’s equity of CNY 40.3 million, revenue of CNY 34.5 million, operating profit of CNY 6.9 million and net profit of CNY 7.4 million for the year ended December 31, 2016. On December 25, 2017, the 17th session of ABA Chemicals Corporation's 3rd directorate approved the transaction. ABA Chemicals Corporation (SZSE:300261) completed the acquisition of 51% stake in Anyang Aierwang New Energy Environmental Co Ltd from Wang ZhiXi, Ma Shuanghua, Sun Xiaoying, Li Xingwen, Qu Songhua, Anyang Xinghe Environmental Technology Service Center (Limited Partnership) on January 5, 2018.