Beijing China Sciences Runyu Environmental Technology Co., Ltd. (SZSE:301175) has signed an Equity Transfer Agreement to acquire 82.0513% stake in Longjing (Xiamen) New Energy Technology Co., Ltd. from Longjing Energy Development Co., Ltd. for approximately CNY 160 million on November 16, 2023. In related transaction Beijing China Sciences Runyu Environmental Technology is also acquiring 17.9487% stake from Hebei Baozhong Environmental Protection Technology. Longjing (Xiamen) New Energy Technology Co., Ltd. reported Total assets worth CNY 707.3 million and Total Common equity of CNY 151.5 million on August 31, 2023.

Beijing China Sciences Runyu Environmental Technology's board of director's approved the transaction.