Hunan Friendship&Apollo Commercial Co.,Ltd. cancelled the acquisition of the remaining 36.56% stake in Tianjin Youa Outlets Commercial Investment Co from Liu Wen and Li Ping.

Hunan Friendship&Apollo Commercial Co., Ltd. is a China-based company, principally engaged in commodity retailing business. The Company operates department stores and shops in Hunan province, China, including Friendship Shop, Spring, Friendship&Apollo Appliance and F&A Spring , among others, which deal with cosmetics, perfumes, household products, decorations, clocks and glasses, men's and women's apparels, accessories, knitted and textile products, footwear and hats, bags, children's apparels, toys, sports products, leisure products, stationeries, teas, pharmaceuticals, household electrical appliances, air conditioners, audio and video electronics, as well as communication devices, among others. Through its subsidiaries, it also engages in the household electrical appliance sales, hotel operation, as well as loan and guarantee businesses.