Shanghai Qite Garden Landscape Construction Co., Ltd. entered into the share transfer agreement to acquire a 51% stake in Jiangxi Longfu Mining Co., Ltd. from Shenwu Environmental Technology Co.,Ltd (SZSE:300156) for CNY 70 million on May 16, 2017. Post completion, Shenwu Environmental Technology Co.,Ltd will not hold any stake in Jiangxi Longfu Mining Co., Ltd. For the year ended December 31, 2016, Jiangxi Longfu Mining Co., Ltd. had total assets of CNY 140.9 million, net assets of CNY 101 million, revenue of CNY 55.9 million, and net profit of CNY 12.7 million. The transaction was approved by the Board of Shenwu Environmental Technology Co.,Ltd in the 26th session of the 3rd directorate on May 16, 2017.