CSCEC Strait Construction and Development Co.,Ltd agreed to acquire remaining 30% stake in China Construction Technology (Fuzhou) Co., Ltd. from China West Construction Group Co., Ltd (SZSE:002302) for CNY 42.8 million on January 19, 2024. Under the terms, CSCEC Strait Construction and Development will pay a one-time payment of CNY 42.8 million by bank account within 7 days after the signing of this agreement. Post completion, CSCEC Strait Construction and Development's stake will increase from 70% to 100% and China West Construction will cease to hold any stake in China Construction Technology.

As of August 31, 2023, China Construction Technology reported Total Assets of CNY 287.12 million and Net Assets of CNY 122.48 million. For the year ended December 31, 2022, China Construction Technology reported Total assets of CNY 289.6 million, Net assets of CNY 165.1 million, Operating revenue of CNY 120.7 million, Operating profit of CNY 9.18 million and Net profit of CNY 7.6 million. The transaction is approved by the board of China West Construction and does not need shareholders approval.

This transaction still needs to obtain the filing documents issued by the state-owned assets management unit regarding the state-owned assets assessment and filing matters.