Shenzhen Chenhaihui Intelligent Technology Co., Ltd. entered into an agreement to acquire Guangzhou Aoyu Sante Culture Co., Ltd. from a group of sellers for CNY 340 million in cash on June 20, 2016. Alpha Group (SZSE:002292) is selling 90% stake in Guangzhou Aoyu Sante Culture Co., Ltd. As on December 31, 2015, Guangzhou Aoyu Sante Culture Co., Ltd. recorded revenue of CNY 0, total assets of CNY 200 million and total equity of CNY 10 million. The transaction has been approved by Board of Alpha Group. Shenzhen Chenhaihui Intelligent Technology Co., Ltd. cancelled the acquisition of Guangzhou Aoyu Sante Culture Co., Ltd. from a group of sellers on June 20, 2017.