Yangtze Ecology and Environment Co., Ltd. agreed to acquire 51% stake in Fuyuan County Nachuan Environmental Technology Co., Ltd. from Fujian Superpipe Co., Ltd. (SZSE:300198) for CNY 4.9 million on January 28, 2021. The Yangtze Ecology and Environment Co., Ltd. and Fujian Superpipe Co., Ltd. agree that the equity transfer price shall be paid in two installments to the bank account designated by the transferor. The first equity transfer price is 50% of the pre-transaction price of the equity transfer, which is CNY 2.44 million; the second equity transfer price is the remaining unpaid part of the price (that is, the final equity transfer price minus the first equity transfer price), but Fujian Superpipe Co., Ltd has the right to deduct the amount of compensation caused by the Yangtze Ecology and Environment Co., Ltd.’s violation of this agreement or the statements, declarations and guarantees under this agreement. After the completion of this transaction, Fujian Superpipe Co., Ltd. will retain a 48% of the equity of Fuyuan County Nachuan Environmental Technology Co., Ltd. Fuyuan County Nachuan Environmental Technology Co., Ltd will become Fujian Superpipe Co., Ltd. shareholding subsidiary, but it will no longer be included in the Fujian Superpipe Co., Ltd. consolidated statement. Post-acquisition Yangtze Ecology and Environment Co., Ltd. will hold 51% stake in Fuyuan County Nachuan Environmental Technology Co., Ltd. Fuyuan County Nachuan Environmental Technology Co., Ltd. reported total assets of CNY 77.29 million, Net assets of CNY 10.04 million, Operating revenue is nil and Net profit of CNY 0.47 million for the year end December 31, 2020. The board of directors of Fujian Superpipe Co., Ltd. approved the transaction.