Beijing GeoEnviron Engineering & Technology,Inc. (SHSE:603588) agreed to acquire 37.81% stake in Yangxin Pengfu Mining Co., Ltd. from Ke Peng and Ke Xipeng for CNY 98.3 million on January 4, 2017. Under the terms of the transaction, Ke Peng will sell 27.81% stake and Ke Xipeng will sell 10% stake. Post-closing, Ke Peng will hold 62.19% stake, Beijing GeoEnviron Engineering & Technology,Inc. will hold 37.81% stake. For the financial year ended December 31, 2016, Yangxin Pengfu Mining Co., Ltd. had total assets of CNY 146.7 million, total equity of CNY 14.4 million, revenue of CNY 42.3 million and net loss of CNY 9.6 million. The transaction was approved by the Board of Directors of Beijing GeoEnviron Engineering & Technology,Inc. Beijing GeoEnviron Engineering & Technology,Inc. (SHSE:603588) cancelled the acquisition of 37.81% stake in Yangxin Pengfu Mining Co., Ltd. from Ke Peng and Ke Xipeng on January 4, 2018.