China Environmental Resources Group Limited announces to give up the acquisition of the entire equity interest of Clear Wisdom.

China Environmental Resources Group Limited announced the agreement relating to the acquisition of the entire equity interest of Clear Wisdom has been terminated because some prerequisites cannot be reached before the deadline. China Environmental Resources Group has a four-star New Century Hotel which is located in Huadu District of Guangzhou City. The property adjoins the open space.

The company believes that the termination of the acquisition will not influence the operations of existing business and financial condition. The company will continue to explore other suitable investment opportunities.