Beijing Shunxin Holding Group Co., Ltd. signed a share transfer agreement to acquire remaining 85.43% stake in Beijing Xindayu Water Conservancy and Construction Engineering Co., Ltd. from Beijing Shunxin Agriculture Co., Ltd. (SZSE:000860) for approximately CNY 180 million in cash on January 22, 2016. After the transfer, Beijing Shunxin Holding Group will hold Beijing Xindayu Water Conservancy and Construction Engineering's 100% stake. As of November 30, 2015, Beijing Xindayu Water Conservancy and Construction Engineering had total assets of CNY 781.54 million and net assets of CNY 94.96 million.

The transaction is subject to the shareholders' approval. On January 22, 2016, the transaction was approved by Board of Directors of Beijing Shunxin Agriculture.