Beijing Enterprises Water Group (China) Investment Limited entered into an agreement to acquire Shuifu Water Industry Investment Co., Ltd from Yunnan Water Investment Co., Limited for CNY 28.3 million on February 27, 2023. Upon completion of the Disposal, Shuifu Water will cease to be a subsidiary of Yunnan Water Investment. As per the terms of payment, Beijing Enterprises Water Group shall pay the consideration in a one-off payment of CNY 28.3 million to the designated bank account of Yunnan Water Investment within 5 Working Days from the effective date of the Shuifu Equity Transaction Agreement.

Shuifu Water has reported Operating revenue of CNY 6 million, net income of CNY 2.8 million, Total assets of CNY 43.2 million and Net assets of CNY 30.6 million For the year ended December 31, 2022.