Panshi Luye Food Co., Ltd agreed to acquire Chong Qing Brewery Anhui Bozhou Co., Ltd. from Chongqing Brewery Co.Ltd (SHSE:600132) for CNY 30 million on February 21, 2017. Chongqing Brewery will transfer Chongqing Beer Anhui Bozhou Co., Ltd. and CNY 37.11 million creditor’s rights to Panshi Luye Food Co., Ltd. The equity transfer price is CNY 10 and the creditor’s rights price is CNY 30 million. In a related transaction, Chongqing Brewery Co.Ltd will sell Chong Qing Brewery Anhui Jiuhuashan Co., Ltd. Board of Directors of Chongqing Brewery Co.Ltd approved the transaction on February 21, 2017. This transaction does not require the approval from the Chongqing Brewery’s stockholders. Panshi Luye Food Co., Ltd cancelled the acquisition of Chong Qing Brewery Anhui Bozhou Co., Ltd. from Chongqing Brewery Co.Ltd (SHSE:600132) on February 21, 2018.