Beijing Capital Co.,Ltd (SHSE:600008) and CITIC Engineering Design and Construction Company Limited entered into agreement to acquire 17.5% stake in CITIC Qingshui River (Wuhan) Investment and Construction Co., Ltd. from Beijing Orient Landscape & Environment Co., Ltd. (SZSE:002310) for CNY 46.9 million on October 13, 2020. After negotiation by all parties, the equity transfer price is CNY 46.9271 million. Among them, the equity transfer price payable by Beijing Capital is CNY 32.1786 million and the equity transfer price payable by CITIC Engineering Design and Construction Company is CNY 14.7485 million.

As per terms, within 10 working days after the parties to the transaction sign the "Property Transaction Contract", the transferee shall pay 50% of the equity transfer price to the company. Within 10 working days after completing the industrial and commercial change, the transferee shall pay 50% of the remaining equity transfer price to the company. Beijing Orient Landscape & Environment will transfer to Beijing Capital Co., Ltd. and CITIC Engineering Design and Construction Company Limited, 12% and 5.5% respectively.

As at June 30, 2020, CITIC Qingshui River (Wuhan) Investment and Construction had total assets of CNY 1.3 billion and net assets of CNY 306 million. The tenth meeting of the seventh Directorate on October 13, 2020 reviewed and approved the transaction.