Shanghai Xirong New Energy Co., Ltd. agreed to acquire Ningxia Shunbo New Energy Co., Ltd. from Ningxia Jiaze Renewables Corporation Limited (SHSE:601619) for CNY 102 million on November 29, 2023. Ningxia Shunbo New Energy Co., Ltd. reported roral assets of CNY 484.16 million and net assets of CNY 90.58 million on July 31, 2023. Ningxia Jiaze Renewables Corporation Limited board of directors approved the transaction and still subject to shareholders' approvals.