Wei Yuqing agreed to acquire 60% stake in Gansu Jinshan Beer Materials Co., Ltd. from Chongqing Brewery Co.Ltd (SHSE:600132) for CNY 9.3 million on July 18, 2017. Under the terms of the transaction, Wei Yuqing will also acquire creditor’s rights of Gansu Jinshan Beer Materials for CNY 4.5 million. As of December 31, 2016, Gansu Jinshan Beer Materials reported total assets of CNY 24.4 million, net assets of CNY 20.3 million, revenues of CNY 58.4 million, and net loss of CNY 2.4 million. The transaction was approved by the 12th session of the 8th directorate meeting of Chongqing Brewery Co.Ltd. Wei Yuqing completed the acquisition of 60% stake in Gansu Jinshan Beer Materials Co., Ltd. from Chongqing Brewery Co.Ltd (SHSE:600132) on August 1, 2017.