Shenzhen Feima International Supply Chain Co., Ltd. (SZSE:002210) signed an intent letter of equity transfer to acquire Sichuan Baineng Biological Power Generation Co., Ltd. and Lingshi Xinhe Waste Incineration Power Generation Co., Ltd. from Liu Wenwu, Zhu Rong, Liu Binsheng and Liu Lili on April 25, 2018. Shenzhen Feima International Supply Chain Co., Ltd. will acquire 92.4% stake from Liu Wenwu and 7.6% stake from Zhu Rong in Sichuan Baineng Biological Power Generation Co., Ltd.; and 99.9% stake from Liu Binsheng and 0.02% stake from Liu Lili in Lingshi Xinhe Waste Incineration Power Generation Co., Ltd. On August 19, 2018, Shenzhen Feima International Supply Chain Co., Ltd. signed a framework agreement to acquire Lingshi Xinhe Waste Incineration Power Generation Co., Ltd. from Liu Binsheng and Liu Lili for CNY 170 million. Shenzhen Feima International Supply Chain Co., Ltd. will pay CNY 68 million in cash and will issue 9.6 million shares at CNY 10.62 per share as consideration. The cash consideration will be funded through a private placement of CNY 80 million. For the year ended December 31, 2017, Lingshi Xinhe Waste Incineration Power Generation Co., Ltd. reported total assets of CNY 131.9 million, net liability of CNY 25.2 million, revenue of CNY 25.9 million, and net loss of CNY 9.99 million. The transaction is subject to another directorate approval and shareholders’ approval of Shenzhen Feima International S898upply Chain Co., Ltd., and approval from the China Securities Regulatory Commission. The transaction was approved by the 23rd session of the 4th directorate of Shenzhen Feima International Supply Chain Co., Ltd. Great Wall Securities Co., Ltd. acted as financial advisor. Shenzhen Feima International Supply Chain Co., Ltd. (SZSE:002210) cancelled the acquisition of Sichuan Baineng Biological Power Generation Co., Ltd. and Lingshi Xinhe Waste Incineration Power Generation Co., Ltd. from Liu Wenwu, Zhu Rong, Liu Binsheng and Liu Lili on April 25, 2019.