Beijing Haohua Energy Resource Co., Ltd. (SHSE:601101) agreed to acquire 60% stake in Ningxia Hongdunzi Coal Industry Co.,Ltd. for CNY 3.1 billion on September 27, 2019. The consideration also includes creditors rights of CNY 2 billion. Beijing Haohua Energy Resource Co., Ltd. (SHSE:601101) has paid CNY 600 million and will pay remaining in one single installment within 2 days since entering into the force of agreement. For the year ended December 31, 2018, Ningxia Hongdunzi Coal Industry Co.,Ltd. reported total assets of CNY 2.5 billion, net liabilities of approximately CNY 880 million, operating revenue of CNY 6.7 million and net loss of approximately CNY 120 million. Beijing Haohua Energy Resource Co., Ltd. (SHSE:601101) cancelled the acquisition of 60% stake in Ningxia Hongdunzi Coal Industry Co.,Ltd. on September 27, 2020.