Everbright Environmental Protection Limited agreed to acquire China Western Power Environmental Power Co., Ltd. from China Western Power Industrial Co., Ltd. for CNY 100 million.

Everbright Environmental Protection (China) Limited agreed to acquire China Western Power Environmental Power (Zhaotong) Co., Ltd. from China Western Power Industrial Co., Ltd. (SZSE:002630) for CNY 100 million on July 5, 2023. As per agreement, first phase of equity transfer price within five working days from the date of signing the contract and providing the following written documents, Everbright Environmental Protection shall pay 10% of consideration. Agricultural Development Bank of China Zhaotong Branch agreed the deal.

Second phase of equity transfer price within five working days after the completion of the following matters (subject to the final completion date) Everbright Environmental Protection shall pay 50% of transfer price, which is CNY 50 million. The remaining 40% of the equity transfer price after the delivery date. China Western Power Environmental Power (Zhaotong) has reported total assets of CNY 557.9 million and net assets of CNY 156.7 million on March 31, 2023.

The board of China Western Power Industrial has reviewed and approved the deal at twenty-sixth meeting of the fifth board of directors held on July 5, 2023.