Ningxia Hengyou Energy Chemical Technology Co., Ltd. signed a share transfer agreement to acquire 51% stake in Xinjiang Fuyun Guanghui Clean Energy Development Co., Ltd. and Xinjiang Fuyun Guanghui New Energy Co., Ltd. from Guanghui Energy Co., Ltd. (SHSE:600256) for CNY 49.6 million on March 20, 2019. Under the terms of transaction, Ningxia Hengyou Energy Chemical Technology Co., Ltd. will acquire 51% stake in Xinjiang Fuyun Guanghui Clean Energy Development Co., Ltd. for CNY 46.9 million and 51% stake in Xinjiang Fuyun Guanghui New Energy Co., Ltd. for CNY 2.7 million from Guanghui Energy Co., Ltd. The transaction is not subject to approval from shareholders of Guanghui Energy Co., Ltd. The transaction has been approved by the Board of Guanghui Energy Co., Ltd. Ningxia Hengyou Energy Chemical Technology Co., Ltd. cancelled the acquisition of 51% stake in Xinjiang Fuyun Guanghui Clean Energy Development Co., Ltd. and Xinjiang Fuyun Guanghui New Energy Co., Ltd. from Guanghui Energy Co., Ltd. (SHSE:600256) on March 20, 2020.