Niu Jingjun cancelled the acquisition of 55% stake in Beijing Novel Environmental Protection Co., Ltd. from Dongjiang Environmental Company Limited.

Niu Jingjun agreed to acquire 55% stake in Beijing Novel Environmental Protection Co., Ltd. from Dongjiang Environmental Company Limited (SEHK:895) for CNY 3.3 million on January 24, 2013. In a related transaction, the Board of Directors of Dongjiang Environmental Company Limited approved the capital increase in its wholly owned subsidiary Shaoguan Green Resource Recycling Development Co., Ltd. For the period ended December 31, 2012, Beijing Novel Environmental Protection had minority interest of CNY 744.09 million.

The deal is approved by Board of Directors of Dongjiang Environmental Company Limited on January 24, 2013. The procedures of share transfer have not been completed and Dongjiang Environmental Company still has control over Beijing Novel. The transaction will make a positive impact on the increase of investment in the principal business of Dongjiang Environmental Company Limited.

Niu Jingjun cancelled the acquisition of 55% stake in Beijing Novel Environmental Protection Co., Ltd. from Dongjiang Environmental Company Limited (SEHK:895) on January 24, 2014.