Changyu Water Investment & Divestment Co., Ltd. signed a share transfer agreement to acquire a 46.84% stake in Hubei Chaibuxi Tourism Co., Ltd. from Wuhan Sante Cableway Group Co., Ltd. (SZSE:002159) for approximately CNY 110 million on April 1, 2020. For the year ended December 31, 2019, Hubei Chaibuxi Tourism had total assets of CNY 160.12 million, net assets of CNY 90.23 million, revenues of CNY 6.45 million, operating loss of CNY 7.68 million and net loss of CNY 7.68 million. At the 29th session of Wuhan Sante Cableway’s 10th directorate, the Board of Directors approved the transaction. The transaction is subject to be approval by Wuhan Sante Cableway’s shareholders. Changyu Water Investment & Divestment Co., Ltd. cancelled the acquisition of 46.84% stake in Hubei Chaibuxi Tourism Co., Ltd. from Wuhan Sante Cableway Group Co., Ltd. (SZSE:002159) on April 1, 2021.