Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. (SHSE:600809) signed an asset transfer agreement to acquire Shanxi Xinghuacun Fenjiu Group Co., Ltd Fenqing Winery for approximately CNY 200 million on November 25, 2019. Under the terms of transaction, Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. will pay CNY 100.6 million within 5 working days from the effective date of agreement and remaining CNY 96.7 million with 6 months after closing. For the year ended December 31, 2018, Shanxi Xinghuacun Fenjiu Group Co., Ltd Fenqing Winery had total assets of CNY 401.4 million, net assets of CNY 159.7 million, revenue of CNY 343.7 million, operating profit of CNY 36.5 million and net profit of CNY 27.1 million. The transaction is subject to approval from shareholders of Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. The transaction has been approved by the Board of Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. On December 11, 2019, the shareholders approved the transaction. Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. (SHSE:600809) cancelled the acquisition of Shanxi Xinghuacun Fenjiu Group Co., Ltd Fenqing Winery on November 25, 2020.