Bohai Water Industry Co.,Ltd (SZSE:000605) agreed to acquire remaining 45% stake in Jiacheng Environmental Engineering Co., Ltd. from Li Huaqing for approximately CNY 370 million on March 17, 2020. The consideration will be paid in cash. Post transaction, Bohai Water Industry Co.,Ltd will own 100% stake. The transaction still needs approval from the relevant state-owned assets supervision and administration department. After audit and assessment works are completed and approval from the relevant state-owned assets supervision and administration department is obtained, Bohai Water will hold another directorate meeting for supplementary resolutions and will then submit to the shareholders for review and approval. Bohai Water Industry Co.,Ltd held its 7th directorate’s 3rd special meeting on March 17, 2020 and approved the matter. For the year ended December 31, 2019, Jiacheng reported total assets of CNY 3,663 million, revenue of CNY 643.13 million. Bohai Water Industry Co.,Ltd (SZSE:000605) cancelled the acquisition of remaining 45% stake in Jiacheng Environmental Engineering Co., Ltd. from Li Huaqing on March 18, 2021.