Shandong Hiking International Co.,Ltd (SHSE:600735) signed an agreement to acquire 50% stake in Qingdao Senhui Graphite Co., Ltd. from Shandong Hiking New Materials Technology Co., Ltd. for CNY 40.8 million on February 7, 2020. As per terms, Shandong Hiking International Co.,Ltd shall pay CNY 20 million within 10 days from the agreement signed date and remaining CNY 20.75 million within 3 days of completion. Qingdao Senhui Graphite had total assets of CNY 39.4 million and net loss of CNY 20.7 million as of September 30, 2019. The transaction was approved by board of directors of Shandong Hiking International Co.,Ltd at the 10th session of the 12th directorate meeting. Shandong Hiking International Co.,Ltd (SHSE:600735) cancelled the acquisition of 50% stake in Qingdao Senhui Graphite Co., Ltd. from Shandong Hiking New Materials Technology Co., Ltd. on February 7, 2021.