Shaoguan Risheng Biomass Power Generation Co., Ltd. agreed to acquire Shaoguan Qujiang Changqing Environmental Protection Thermal Power Co., Ltd. from Guangdong Chant Group Inc. for CNY 48.75 million.

Guangdong Chant Group Inc is a China-based company mainly engaged in electricity and heat production and comprehensive utilization of biomass. The Company's main businesses are biomass combined heat and power, domestic waste power generation and coal-fired central heating in industrial parks. The biomass combined heat and power business uses biomass such as crop straw and forestry waste as raw materials to produce renewable energy such as heat and electricity. The domestic waste power generation business uses domestic waste as raw materials, collects garbage disposal fees, produces electricity and sells it online. The coal-fired central heating business in industrial parks mainly uses centralized heating or cogeneration facilities including coal to replace scattered small boilers to solve the industrial steam and residential heating problems in the industrial zone.