Zhejiang Chint New Energy Development Co., Ltd. agreed to acquire the remaining 49% stake in Eerduosi Zhengli New Energy Power Generation Co., Ltd. from Elion Energy Company Limited (SHSE:600277) for approximately CNY 250 million on April 14, 2021. Under the term, Zhejiang Chint New Energy Development Co., Ltd. will pay 95% of the consideration within 3 working days after the completion of the industrial and commercial change of the equity transfer and the remaining 5% will be paid 6 months after the completion of the industrial and commercial change of the equity transfer. Post completion, Elion Energy Company Limited will no longer hold any equity of Eerduosi Zhengli New Energy Power Generation Co., Ltd. Eerduosi Zhengli New Energy Power Generation Co., Ltd. will operate as a wholly-owned subsidiary of Zhejiang Chint New Energy Development Co., Ltd. As of December 31, 2020, Eerduosi Zhengli New Energy Power Generation Co., Ltd. reported total assets of CNY 959.17 million, net assets of CNY 513.14 million, revenue of CNY 148.51 million and net profit of CNY 67.85 million. The transaction was reviewed and approved at the eleventh meeting of Elion Energy Company Limited's eighth session of the board of directors and does not need to be submitted to Elion Energy Company Limited's shareholders meeting for review and approval. The transaction was approved by the board of director of Zhejiang Chint Electrics Co., Ltd. (SHSE : 601877), the parent company of Zhejiang Chint New Energy Development Co., Ltd. on the seventeenth meeting of the eighth board of directors meeting held on April 14, 2021.