Ningguo State-owned Capital Holding Group Co., Ltd. signed the share transfer agreement to acquire a 10.34% stake in Guangxi Bossco Environmental Protection Technology Co.,Ltd. (SZSE:300422) from Guangzhou Environmental Protection Investment Group Co.,Ltd. for approximately CNY 520 million on December 27, 2022. Ningguo State-owned will pay CNY 9.95 cash per share for 52,198,764 shares of Guangxi Bossco Environmental. Prior to this transaction, Guangzhou Environmental Protection owns a 30.67% stake in Guangxi Bossco Environmental and post-closing, Guangzhou Environmental Protection will own 19.64% and Ningguo State-owned will own 10.34% stake in it.

The transaction is subject to parties have respectively obtained the state-owned assets approval documents issued by their respective state-owned assets supervision and administration departments that agree to this transaction and having passed the review of the concentration of operators by the Anti-monopoly Bureau of the State Administration for Market Regulation, and obtained the "Decision on No Further Review of the Anti-monopoly Review of Concentration of Operators. As of April 20, 2023, the State-owned Assets Supervision and Administration Commission of the Guangzhou Municipal People's Government and State Administration for Market Regulation approved the transaction.