An unknown buyer entered into letter of intent to acquire 70% stake in Aohanqi Xinrui En Industry Co., Ltd. from Sino Prosper (Group) Holdings Limited (SEHK:766) on September 1, 2017. The transaction is subject to sign formal agreement. If the parties fail to enter into the formal agreement on or before long stop date (September 1, 2018), the letter of intent shall terminate and no parties can claim damages or specific performance against the other party. As of August 31, 2018, the time limit for entering into the Formal Agreement in respect of transaction has been extend to August 31, 2020. An unknown buyer cancelled the acquisition of 70% stake in Aohanqi Xinrui En Industry Co., Ltd. from Sino Prosper (Group) Holdings Limited (SEHK:766) on December 31, 2018. Both the parties are free from any obligations and liabilities under the termination agreement.