Shenzhen Venture Capital Manufacturing Transformation and Upgrading New Materials Fund,Shenzhen Innovation Investment Group Co., Ltd., Qingdao Jianhua High-tech Industrial Investment Fund Partnership Enterprise (Limited Partnership), Guangdong Beiying Technology Investment Center (Limited Partnership), Dongguan Dongkang Industrial Investment Co., Ltd., Beijing Jifu Qizhuo Investment Fund Center (Limited Partnership), Gongqingcheng Jifu Saixin Investment Partnership (Limited Partnership), Ningbo Jundu Boyuan Venture Capital Partnership (Limited Partnership), Shenzhen Zhongxiaodan Venture Capital Co., Ltd., Guangzhou Yuanjian New Energy Technology Investment Partnership (Limited Partnership), Guangzhou Tianze Ruichuang Equity Investment Center (Limited Partnership), Wanlian Guangsheng Investment Co., Ltd., Shenzhen Shenzhen Investment Holding Shenzhen-Hong Kong Kechuang Private Equity Investment Fund and Qingdao Jianhua Tongyuan Phase I Venture Capital Fund Partnership (Limited Partnership) agreed to acquire 31% stake in Dongguan Sixiang Insulation Materials Co., Ltd from Guangzhou Goaland Energy Conservation Tech. Co., Ltd. (SZSE:300499) for Approximately CNY 410 million on November 6, 2022. Dongguan Sixiang Insulation Materials reported a Total assets worth CNY 1.2 billion and Total common equity of CNY 300 million with EBIT of CNY 607 million and Net Income of CNY 44.57 million on June 30, 2022.

The transaction has already been approved by Guangzhou Goaland Energy Conservation Tech. Co., Ltd. Board of director's. The transaction is subject to approval from Guangzhou Goaland Energy Conservation Tech. Co., Ltd.'s shareholders.

As on November 23, 2022, The shareholders of Guangzhou Gaolan Energy Saving Technology has approved the deal on November 22, 2022.