Guangdong Shunkong Development Co.,Ltd. (SZSE:003039) entered into a letter of intent to acquire an unknown majority stake in China Machinery Technology Development (Maoming) Co., Ltd. from China Energy Engineering Group Capital Holdings Co., Ltd. on July 6, 2022. Guangdong Shunkong Development Co.,Ltd. signed the Supplementary Agreement to acquire an unknown majority stake in China Machinery Technology Development (Maoming) Co., Ltd. from China Energy Engineering Group Capital Holdings Co., Ltd. recently. As on December 31, 2022, China Machinery Technology Development (Maoming) has Revenue of CNY 140.103419 million, Total Assets of CNY 134.516794 million, Net Assets of CNY 412.719237 million, Operating Profit of, Net Profit of CNY -8.004332 million. This was already approved by the Guangdong Shunkong Development directorate and still needs to be approved by the company's shareholders' meeting.