Ningbo Development & Investment Energy Group Co., Ltd. entered into an agreement to acquire 65% stake in Ningbo Energy Industry Co., Ltd. from Ningbo Energy Group Co.,Ltd. (SHSE:600982) for CNY 66.04 million on August 31, 2023. As of June 30, 2023, Ningbo Energy Industry reported total assets of CNY 468.4 million and net assets of CNY 101.5 million.

Ningbo Development & Investment Energy Group Co., Ltd. completed the acquisition of 65% stake in Ningbo Energy Industry Co., Ltd. from Ningbo Energy Group Co.,Ltd. (SHSE:600982) on September 20, 2023.