Jiangsu King's Luck Brewery Joint-Stock Co., Ltd. (SHSE:603369) agreed to acquire 49% stake in Shandong Lingzhi Liquor Co., Ltd. on October 14, 2018. Parties signed cooperation agreement on October 15, 2018. The acquisition will be paid in cash. The payment will be divided into two types: the first is immediate payment upon acquisition, and will be paid at a price of CNY 6.9 per share; the second is payment three years after acquisition. The transaction has been approved by the Board of Jiangsu King's Luck Brewery Joint-Stock Co., Ltd. Jiangsu King's Luck Brewery Joint-Stock Co., Ltd. (SHSE:603369) cancelled the acquisition of 49% stake in Shandong Lingzhi Liquor Co., Ltd. on October 14, 2019.