Guangdong Ge´en Enterprise Management Co., Ltd agreed to acquire 40% stakes in Qiyuan (Shaanxi) Lead Electronic Material Co., Ltd from CECEP Environmental Protection Equipment Co.,Ltd. (SZSE:300140) for CNY 6.2 million on June 15, 2022. Guangdong Ge´en Enterprise Management Co., Ltd paid 60% consideration amounting CNY 3.73116 million in cash and remaining 40% of the transaction price will be issued to the China CITIC Bank Co., Ltd. Foshan Branch with an irrevocable demand performance guarantee. As of August 25 the remaining 40% of the consideration has been paid.

The transaction is subject to approval of merger agreement by CECEP Environmental Protection Equipment Co.,Ltd. board. As of June 15, 2022 CECEP Environmental Protection Equipment Co.,Ltd. board approved the deal.