Beijing SPC Environment Protection Tech Co., Ltd. (SZSE:002573) signed an Equity Investment Agreement to acquire 26.9% stake in Shenzhen Shenshui Water Resources Consulting Co., Ltd. from Shenzhen Shenshui Water Resources Investment Co., Ltd., Ningbo Boyuan Future Investment Partnership (Limited Partnership) and Zhuhai Zhengxin Boyuan Equity Investment Fund Partnership (Limited Partnership) for approximately CNY 210 million on April 21, 2021. As reported, Shenzhen Shenshui Water Resources Investment Co. will sell 10.0661% stake for CNY 80.2 million, Ningbo Boyuan Future Investment Partnership (Limited Partnership) will sell 9.4645% stake for CNY 75.6 million and Zhuhai Zhengxin Boyuan Equity Investment Fund Partnership (Limited Partnership) will sell 7.3995% stake for CNY 59.2 million. In a separate transaction, Beijing SPC Environment Protection Tech Co., Ltd. intends to use CNY 225 million to increase capital in Shenzhen Shenshui Water Resources Consulting Co., Ltd., accounting for 28.0669% of the equity. Following the transactions, Beijing SPC Environment Protection Tech Co. will own 55% of in Shenzhen Shenshui Water Resources Consulting Co. while Shenzhen Shenshui Water Resources Investment Co. will own 45%. For the year ended September 30, 2020, Shenzhen Shenshui Water Resources Consulting Co. reported total assets of CNY 1.4 billion and net assets of CNY 377.9 million. The twentieth meeting of the fifth Board of Directors of Beijing SPC Environment Protection Tech Co. reviewed and approved the transaction. The transaction does not need to be submitted to the shareholders meeting for deliberation.