China Carbon Neutral Development Group Limited entered into sale and purchase agreement to acquire China Eco Environment Development Limited from Stable Sheen Limited for HKD 60 million.

China Carbon Neutral Development Group Limited (SEHK:1372) entered into sale and purchase agreement to acquire China Eco Environment Development Limited from Stable Sheen Limited for HKD 60 million on January 26, 2024. China Eco Environment Development reported net asset value of HKD 75 million, revenues of HKD 246.2 million, profit of HKD 16.5 million and total assets of HKD 78.4 million for year ended December 31, 2023. The consideration will be funded by internal resources and bank borrowings of China Carbon Neutral.