Beijing Enterprises Environment Group Limited (SEHK:154) entered into the share purchase agreement to acquire 51% stake in Beijing Xindi Garden Group Limited from Du Qingjiang and Yang Lanhua for CNY 29 million on March 8, 2018. The consideration will be paid by the way of bank transfer on the completion date. Du Qingjiang and Yang Lanhua agreed to pay to Beijing Enterprises Environment Group Limited a performance deposit of CNY 23.2 million. Payment of the consideration will be funded by the internal resources of the Beijing Enterprises Environment Group Limited and its subsidiaries. Upon Completion, Beijing Xindi Garden Group Limited will become a non wholly-owned subsidiary of Beijing Enterprises Environment Group Limited. Beijing Xindi Garden Group Limited reported net profit of CNY 12.1 million for the year ended December 31, 2017. The transaction is subject to all necessary consents and approvals in relation to the acquisition having been obtained, there having been no material adverse change of Beijing Xindi Garden Group Limited or on its business at any time from the date of the share purchase agreement up to the completion date, all warranties remain true, accurate and not misleading, all obligations having been fulfilled, the reorganization having been completed and Beijing Enterprises Environment Group Limited or its nominee having been registered with SAIC as the shareholder of the 51% equity interest. Beijing Enterprises Environment Group Limited (SEHK:154) completed the acquisition of 51% stake in Beijing Xindi Garden Group Limited from Du Qingjiang and Yang Lanhua at the end of June 2018. Beijing Xindi Garden Group Limited is now known as Beijing Beifa Ecological Landscape Co., Ltd.