Hubei Feilihua Quartz Glass Co.,Ltd (SZSE:300395) signed an equity transfer agreement to acquire 51.88% stake in Zhongyi (Taixing) Environmental Technology Co., Ltd. from Jiangsu Skye Fluorine Composite Material Co., Ltd., Shanghai Xibin Business Consulting Partnership (Limited Partnership), Zhejiang Haona New Materials Co., Ltd and Hu Debing for CNY 54.4 million on June 10, 2021. Hubei Feilihua Quartz Glass will pay the first equity transfer amount of CNY 27.2 million within ten working days after the transaction is approved by the Philippine board of directors and the general meeting of shareholders (if necessary)., of which CNY 13.3264 million will be paid to Shanghai Xibin, CNY 10.9931 million will be paid to Jiangsu Skye Fluorine, CNY 2.2115 million will be paid to Zhejiang Haona, and CNY 0.776 million will be paid to Hu Debing. Post completion, Hubei Feilihua Quartz Glass Co.,Ltd will hold 60% stake in Zhongyi (Taixing) Environmental Technology Co., Ltd. Shanghai Xibin Business Consulting Partnership (Limited Partnership) will hold 2.8% stake, Shanghai Xueji Environmental Protection Technology Co., Ltd. will hold 16.6% stake and Zhejiang Haona New Material Co., Ltd. will hold 3.2% stake. As on December 31, 2020, reported total assets of CNY 58.2215? million, net assets of CNY 49.7 million, operating income of CNY 58.7 million and net profit of CNY 11.3 million. Transaction is approved by the Board of Hubei Feilihua Quartz Glass Co.,Ltd.