Inner Mongolia Donghui Industrial Group Co., Ltd. and Wu Qian signed a share purchase agreement to acquire 25% stake in Zhejiang M-Grass Happy Grass Environmental Development Co., Ltd. from Inner Mongolia M-Grass Ecology And Environment (Group) Co., Ltd. (SZSE:300355) for approximately CNY 100 million on November 20, 2020. Under the terms of transaction, Inner Mongolia Donghui Industrial Group Co., Ltd. and Wu Qian will pay 30% before December 31, 2021, 30% before December 31, 2022, and the remaining amount before December 31, 2023. On September 30, 2020, Zhejiang M-Grass Happy Grass Environmental Development Co., Ltd. reported total assets of CNY 1.266 billion and net assets of CNY 364.499 million. The transaction has been approved in the 16th meeting of the Inner Mongolia M-Grass Ecology And Environment 4th directorate held on November 20, 2020 and does not need the shareholders approval.