Beijing Oriental Yuhong Waterproof Technology Co.,Ltd (SZSE:002271) agreed to acquire Jiangsu Woniushan Thermal Insulation Waterproof Technology Co., Ltd. from Xuzhou Woniushan New Waterproof Materials Co., Ltd. for CNY 50 million on November 3, 2015. Beijing Oriental Yuhong Waterproof Technology will also carry out a capital increase of CNY 50 million in Jiangsu Woniushan Thermal Insulation Waterproof Technology. Beijing Oriental Yuhong Waterproof Technology will use its own funds of CNY 50 million to acquire the stake. After the completion of the share transfer and capital increase, Jiangsu Woniushan Thermal Insulation Waterproof Technology will become a wholly-owned subsidiary of Beijing Oriental Yuhong Waterproof Technology. Jiangsu Woniushan Thermal Insulation Waterproof Technology reported total assets of CNY 136.55 million, total owner’s equity of CNY 21.26 million, revenues of CNY 145.41 million, operating loss of CNY 15.46 million and net loss of CNY 15.46 million in 2014. The deal was approved by the Board of Directors of Beijing Oriental Yuhong Waterproof Technology. Beijing Oriental Yuhong Waterproof Technology Co.,Ltd (SZSE:002271) cancelled the acquisition of Jiangsu Woniushan Thermal Insulation Waterproof Technology Co., Ltd. from Xuzhou Woniushan New Waterproof Materials Co., Ltd. on November 3, 2016.