Foran Energy Group Co.,Ltd. (SZSE:002911) agreed to acquire an 80% stake in Foshan Comprehensive Energy (Public Control) Co., Ltd. from Foshan Public Utilities Holding Co., Ltd., Foshan Qiye Group Co., Ltd. and Foshan Power Construction Group Co., Ltd. for approximately CNY 110 million on November 12, 2021. The Foran Energy will acquire 40%, 20.816% and 19.184% stake from Foshan Qiye Group Co., Foshan Public Utilities Holding Co., and Foshan Power Construction Group Co. for CNY 52.53 million, CNY 27.33 million and CNY 25.19 million respectively and upon completion it will own 80% in Foshan Comprehensive. The total assets and net assets of Foshan Comprehensive as of September 30, 2021, were CNY 234.7691 million and CNY 97.8409 million respectively. The 17th session of the company?s 5th directorate approved the acquisition.