Fengyuan Green Energy Co., Ltd. and Jinan Runhe Venture Capital Partnership (Limited Partnership) entered into an equity transfer agreement to acquire 85% stake in Daqing Zhongdan Ruihao Wind Power Generating Co., Ltd. for approximately CNY 110 million on December 25, 2019. Fengyuan Green Energy Co., Ltd. will acquire 84.6032% stake for CNY 106.6 million and Jinan Runhe Venture Capital Partnership (Limited Partnership) will acquire 0.3968% for CNY 0.5 million in Daqing Zhongdan Ruihao Wind Power Generating Co., Ltd. In related transactions, Fengyuan Green Energy Co., Ltd. and Jinan Runhe Venture Capital Partnership (Limited Partnership) entered into an equity transfer agreement to acquire 85% stake in Daqing Dumeng Huzhen Dairy Farm Wind Power Co., Ltd. from Ming Yang Smart Energy Group Limited for approximately CNY 170 million, Fengyuan Green Energy Co., Ltd. and Jinan Runhe Venture Capital Partnership (Limited Partnership) entered into an equity transfer agreement to acquire 85% stake in Daqing Dumeng Hujitumo Wind Power Co., Ltd. from Ming Yang Smart Energy Group Limited for approximately CNY 120 million and Fengyuan Green Energy Co., Ltd. and Jinan Runhe Venture Capital Partnership (Limited Partnership) entered into an equity transfer agreement to acquire 85% stake in Daqing Dumeng Dairy Farm Wind Power Co., Ltd from Ming Yang Smart Energy Group Limited for approximately CNY 160 million. Daqing Zhongdan Ruihao Wind Power Generating Co., Ltd. reported total assets of CNY 430.93 million, total revenue of CNY 42.3 million, net income of CNY 6.7 million and net assets of CNY 161.65 million as of December 31, 2018. The transaction has been approved by the Board of Ming Yang Smart Energy Group Limited.