Dongguan Ruiteng Environmental Technology Co., Ltd. agreed to acquire 84.75% stake in Dongguan Guohong New Material Co., Ltd. from Guangdong Guoli Sci & Tech Co., Ltd. (SZSE:300716) for CNY 66.13 million on September 15, 2021. As per terms of transaction, The Dongguan Ruiteng Environmental Technology Co., Ltd. agreed to pay a deposit of CNY 10 million before September 15, 2021, within 5 working days after the completion of the registration modification, the Dongguan Ruiteng Environmental Technology Co., Ltd. will pay CNY 10 million to the seller and within 30 days after the completion of the registration modification, will pay the remaining balance to the Guangdong Guoli Sci & Tech Co., Ltd. The transfer price of the creditor’s rights is CNY 19.13 million. Within 30 days after the completion of the registration modification, the buyer will make a one time payment of the transfer price for the creditor’s rights to the seller. As of August 31, 2021, reported total assets of CNY 182.979109 million, Net assets of CNY 33.871537 million, Revenue is of CNY 0 million, operating profit of CNY -0.266266 million and Net profit of CNY -0.271080 million.