Anhui Xinke New Materials Co., Ltd. (SHSE:600255) entered into a conditional sale and purchase agreement to acquire 30.75% stake in Pegasus Entertainment Holdings Limited (SEHK:1326) from Honour Grace Limited for approximately HKD 190 million on December 20, 2016. Honour Grace Limited will sell 776.09 million shares and reduce holding to 423.91 million shares. The transaction is subject to the fulfillment of the conditions precedent under the agreement.

Anhui Xinke New Materials Co., Ltd. (SHSE:600255) cancelled the acquisition of 30.75% stake in Pegasus Entertainment Holdings Limited (SEHK:1326) from Honour Grace Limited on March 28, 2017.