Canvest Kewei Environmental Investment Company Limited entered into an equity transfer agreement to acquire Xiangyun Shengyun Environmental Energy Co., Ltd. from Anhui Shengyun Environment-Protection group Co., Ltd for approximately CNY 4 million.

Anhui Shengyun Environment-Protection group Co., Ltd is a China-based company principally engaged in solid waste treatment business. The Company is engaged in the investment, construction and operation of waste incineration for power generation projects. The Company is also engaged in the research and development, manufacture and sales of conveying machinery, incinerators and environmental protection equipment, as well as the provision of related engineering services. The Company conducts its businesses mainly in domestic markets, with East China as its main market.