CECEP Techand Ecology&Environment Co.,Ltd. (SZSE:300197) agreed to acquire Hangzhou Pujie Environmental Protection Technology Co., Ltd. from Zhang Wenhui for CNY 250 million on April 21, 2023. CECEP Techand paid CNY 28.1576 million in cash and issued 81,825,538 shares. Grant Thornton China, acted as Accountant, Haitong Securities Co., Ltd. (SHSE:600837) as Financial advisor and Jiayuan Law acted as legal advisors to CECEP Techand Ecology&Environment Co.,Ltd. (SZSE:300197.As of February 1, 2024, the transaction has been approved by the internal decision-making body of the counterparties (legal person/partnership), the counterparty (natural person), and China Energy Conservation and Environmental Protection Group.

As of December 31, 2022, Hangzhou Pujie Environmental Protection Technology Co., Ltd reported total assets of CNY 110 million, total common equity of CNY 100 million, total profit of CNY 10.6 million, and net profit of CNY 10.5 million.