Guangzhou Finance Holdings Capital Management Co., Ltd. cacelled the acquisition of 8.1% stake in Pengqi Technology Development Co., Ltd. from Zhang Pengqi.

PENGQI TECHNOLOGY DEVELOPMENT CO., LTD is a China-based company principally engaged in military, environmental protection and real estate business. Military business includes precision casting, precision machining and production of non-ferrous metals such as titanium and titanium alloys, aluminum alloys and aluminum-magnesium alloys. The main products are titanium and titanium alloy precision castings, aluminum alloys and aluminum-magnesium alloy castings, precision machining, laser welding molded parts, etc. Environmental protection business is engaged in the comprehensive recovery of a variety of non-ferrous metals and sulfuric acid, as well as its clean production and sales business. Its main products are indium, zinc, tin, silver, and lead ingots. Real estate business is principally engaged in real estate development. The Company mainly operates its business in the domestic market.