Guizhou Chanhen Chemical Corporation (SZSE:002895) signed an equity transfer agreement to acquire 15% stake in Guizhou Fuquan Chuandong Chemical Co., Ltd. from Guizhou Fuquan Phosphate Mine Co., Ltd. for CNY 30 million on January 27, 2019. A first installment of 90% of the transactional price will be paid within 10 days since signing of the agreement. The extant 10% will be paid within 5 days since completion of change of registry procedures. Guizhou Fuquan Chuandong Chemical Co., Ltd. reported total assets of CNY 156.06 million and net assets of CNY 158.91 million as at December 31, 2018. The transaction does not need approval from the shareholders’ meeting. The Board of Directors of Guizhou Chanhen Chemical Corporation approved the transaction. Guizhou Chanhen Chemical Corporation (SZSE:002895) cancelled the acquisition of 15% stake in Guizhou Fuquan Chuandong Chemical Co., Ltd. from Guizhou Fuquan Phosphate Mine Co., Ltd. on January 27, 2020.