China Power Investment New Agricultural Innovation Technology Co., Ltd agreed to acquire Shandong Linyang New Energy Technology Co., Ltd. from Jiangsu Linyang Energy Co., Ltd. (SHSE:601222) for CNY 1.3 billion on November 17, 2022. As on May 31, 2022, Shandong Linyang New Energy Technology Co., Ltd. generated total assets of CNY 2.9billion and net assets of CNY 1.3 billion. The transaction is approved by board of directors of Jiangsu Linyang Energy Co., Ltd. and is subject to approval by shareholders of Jiangsu Linyang Energy Co., Ltd. As on December 6, 2022, The shareholders of Jiangsu Linyang Energy has approved the deal at Fourth Extraordinary General Meeting held on December 5, 2022.