Jointo Energy Investment Co., Ltd. Hebei (SZSE:000600) signed an contract to acquire 30% stake of Yangmei Group Shouyang Boqi Power Generation Co., Ltd. from Huayang New Material Science And Technology Group Co., Ltd. on September 30, 2020. September 29, 2020, Jointo Energy Investment Co., Ltd. Hebei agreed to acquire 21% stake of Yangmei Group Shouyang Boqi Power Generation from Beijing Boqi Environmental Solutions Technology Co., Ltd. As a result of both the transactions Jointo Energy will hold 51% stake in Yangmei Group. For the year ended December 31, 2020, Yangmei Group reported Total Assets of CNY 1.5 billion, Net assets of CNY 609.2 million, Net loss of 0.4 million and CNY 0 as Revenue. As of November 19, 2020, the transaction is approved by board of directors of Jointo Energy.