Sichuan Guoguang Agrochemical Co., Ltd. (SZSE:002749) entered into an equity transfer agreement to acquire Chongqing Yi’er Shuangfeng Technology Co., Ltd. from Shuangfeng Chongqing Chemical Co., LTD. for approximately CNY 82 million on October 29, 2019. As of November 20, 2019, the final transaction price is CNY 78 million. Under the terms of the transaction, Sichuan Guoguang Agrochemical Co., Ltd. shall pay the equity transfer price of no more than CNY 82 million to Shuangfeng Chongqing Chemical Co., LTD.'s account in five times by bank transfer. Sichuan Guoguang Agrochemical Co., Ltd. will fund the transaction using its own funds. Post completion, Sichuan Guoguang Agrochemical will hold 100% stake in Chongqing Yi’er Shuangfeng Technology. For the financial year ending December 31, 2018, Chongqing Yi’er Shuangfeng Technology Co., Ltd. reported total assets of CNY 0.52 million, and net assets of CNY 0.52 million. The transaction has been approved on October 29, 2019 at the tenth (provisional) meeting of the fourth directorate of Sichuan Guoguang Agrochemical Co., Ltd. The transaction and the final transaction price was approved by the board of directors of Sichuan Guoguang Agrochemical on the fourth board of directors held on November 20, 2019. The transaction does not need Sichuan Guoguang Agrochemical's shareholder approval. Sichuan Guoguang Agrochemical Co., Ltd. (SZSE:002749) cancelled the acquisition of Chongqing Yi’er Shuangfeng Technology Co., Ltd. from Shuangfeng Chongqing Chemical Co., LTD. on October 29, 2020.