China Power Investment Corporation Hebei Power Co., Ltd. agreed to acquire Zhangjiakou Yiyuan New Energy Development Company Limited from Elion Energy Company Limited (SHSE:600277) for approximately CNY 170 million on July 23, 2021. The consideration shall be payable in two phases. The first phase of consideration of CNY 83 million shall be payable within 10 working days after the agreement becomes effective while second phase of consideration CNY 83 million payable within 10 working days after completion of the transaction. As of April 30, 2021, Zhangjiakou Yiyuan New Energy Development Company Limited has reported total assets of CNY 476.9 million and net assets of CNY 121.73 million. The Board of Directors of Elion Energy Company Limited has approved the transaction while approval from its shareholders is still pending. As per the general meeting of shareholders on August 23, 2021, the shareholders of Elion Energy approved the transaction. Completion shall take place in two phases.