Guangdong Liantai Environmental Protection Co.,Ltd. (SHSE:603797) agreed to acquire 54.9% stake in Shantou Liantai Chenghai Water Services Co., Ltd. and Shantou Liantai Chaoying Water Co., Ltd. and Shantou Liantai Guanbu Water Co., Ltd. for CNY 147.7 million from Dahao Municipal Construction Co., Ltd. on July 12, 2022. Guangdong Liantai Environmental Protection will acquire 25% of Shantou Liantai Chenghai Water Services, 24.95% of Shantou Liantai Chaoying Water and 4.95% of Shantou Liantai Guanbu Water. Guangdong Liantai Environmental Protection will use his own fund to fund this acquisition.

The board of Guangdong Liantai Environmental Protection approved the deal and deal has still needs to approve by shareholders. Shantou Liantai Chenghai Water Services and Shantou Liantai Chaoying Water and Shantou Liantai Guanbu Water has reported total assets of CNY 3,546.834647 million on March 31, 2022. Shantou Liantai Chenghai Water Services and Shantou Liantai Chaoying Water and Shantou Liantai Guanbu Water has reported net profit of CNY 26.19168887 million on December 31, 2021.

On July 28, 2022 Guangdong Liantai Environmental Protection Co.,Ltd shareholders confirmed by the signatures of the directors and the recorder and stamped with the seal of the board of directors.