Shanghai Hexu Industrial Co., Ltd. entered into an equity transfer agreement to acquire 13.2% stake in Weifang Yaxing Chemical Co., Ltd. (SHSE:600319) for approximately CNY 270 million on January 6, 2019. As per the terms, Shanghai Hexu Industrial shall acquire 41.65 million shares for CNY 6.6 per share. Shanghai Hexu Industrial Co., Ltd. cancelled the acquisition of 13.2% stake in Weifang Yaxing Chemical Co., Ltd. (SHSE:600319) on January 29, 2019.