Zhongyu Gas Holdings Limited (SEHK:3633) entered into an equity transfer agreement to acquire Puyang County Fengyuan Natural Gas Co., Ltd. from three individuals for CNY 36 million on September 12, 2019. Upon completion, Zhongyu Gas Holdings Limited will own entire equity interest of Puyang County Fengyuan Natural Gas Co., Ltd. In a related transaction, Zhongyu Gas Holdings Limited entered into an equity transfer agreement to acquire 89.5% stake in Zhengzhou Yizhiquan New Energy Co., Ltd. and 10% stake in Puyang Tianrun Gas Co., Ltd. for CNY 115 million on September 12, 2019. The consideration will be funded by internal resources. Upon completion, Puyang County Fengyuan Natural Gas Co., Ltd. will become a wholly owned subsidiary of Zhongyu Gas Holdings Limited. The transaction can create synergies between the projects currently operated by Puyang County Fengyuan Natural Gas Co., Ltd. and the existing projects of Zhongyu Gas Holdings Limited.