Chongqing Aohuan Industrial Co., Ltd. agreed to acquire Chongqing Jiachen Biological Engineering Co., Ltd. from Chongqing Brewery Co.Ltd (SHSE:600132) for CNY 68 million on March 10, 2016. Under the terms of the deal, Chongqing Brewery plans to transfer Chongqing Jiachen Biological Engineering’s 100% stake and debt of CNY 186.7 million to Chongqing Aohuan Industrial for CNY 68 million. As of July 31, 2015, Chongqing Jiachen Biological Engineering had total assets of CNY 50 million, total liabilities of CNY 187.27 million and net assets of -CNY 137.26 million. The transaction has been approved by Board of Directors of Chongqing Brewery. Chongqing Aohuan Industrial Co., Ltd. cancelled the acquisition of Chongqing Jiachen Biological Engineering Co., Ltd. from Chongqing Brewery Co.Ltd (SHSE:600132) on March 10, 2017.