Hangzhou Yuchi Environmental Protection Technology Partnership (Limited Partnership) signed an agreement to acquire a 40% stake in Hangzhou Jingu Environmental Protection Equipment Technology Co., Ltd from Zhejiang Jingu Company Limited (SZSE:002488) for CNY 64 million on March 29, 2022. Board of directors of Zhejiang Jingu Company Limited approved the transaction. As of December 31, 2021, Hangzhou Jingu Environmental Protection Equipment Technology Co., Ltd reported total assets of CNY 112.348,900 million, Total Common Equity of CNY 84.832,400 million, EBIT of CNY 39.515,900 million and Net Income of CNY 4.850,600 million.

The transaction is expected to be closed by March 30, 2022.