Hubei Yihua Chemical Industry Co., Ltd. (SZSE:000422) signed share transfer agreement to acquire 51% stake in Jing County Shengke Environment Technology Co., Ltd. from Hubei Yihua Group Limited Liability Company for CNY 15.5 million on October 16, 2020. As at August 31, 2020, Jing County Shengke Environment had total assets of CNY 79.64 million and net assets of CNY 20.66 million. The transaction is subject to the Shareholders’ Approval. The transaction has been approved in the 33rd Meeting of the Company’s 9th Directorate held on October 16, 2020. The transaction will be completed before November 30, 2020, and the payment will be done before December 31, 2020. Hubei Yihua Chemical Industry Co., Ltd. (SZSE:000422) completed the acquisition of 51% stake in Jing County Shengke Environment Technology Co., Ltd. from Hubei Yihua Group Limited Liability Company on December 10, 2020. The consideration has been paid.