Shanghai Join Wealth Management Inc. agreed to acquire 25% stake in Beijing Lanji New Energy Technology Co., Ltd. from Yechiu Metal Recycling (China) Ltd. (SHSE:601388) for CNY 40 million on January 13, 2017. Beijing Lanji New Energy Technology Co. had total assets of CNY 10.81 million and net assets of CNY 8.39 million as on November 30, 2016. The transaction does not require approval from Board of Yechiu Metal Recycling (China) Ltd. On March 17, 2017, the shareholders' of Yechiu Metal Recycling (China) Ltd approved the transaction. Shanghai Join Wealth Management Inc. cancelled the acquisition of 25% stake in Beijing Lanji New Energy Technology Co., Ltd. from Yechiu Metal Recycling (China) Ltd. (SHSE:601388) on January 13, 2018.