Sichuan Jiuchen Technology Co., Ltd. agreed to acquire 35% stake in Sichuan Zhongwu Hongyu Technology Co., Ltd. from Honyu Wear-Resistant New Materials Co., Ltd. (SZSE:300345) for CNY 23.9 million on January 2, 2018. The transaction is subject to approval from shareholder of Honyu Wear-Resistant New Materials Co., Ltd. The transaction has been approved by the Board of Honyu Wear-Resistant New Materials Co., Ltd. Sichuan Jiuchen Technology Co., Ltd. cancelled the acquisition of 35% stake in Sichuan Zhongwu Hongyu Technology Co., Ltd. from Honyu Wear-Resistant New Materials Co., Ltd. (SZSE:300345) on January 2, 2019.