Beijing Jingneng Clean Energy Power Co., Ltd. signed Boyang Equity Transfer Agreement to acquire Ningxia Boyang New Energy Co.,Limited from Ningxia Jiaze Renewables Corporation Limited (SHSE:601619) for CNY 1.1 billion on July 19, 2021. The consideration will be paid in tranches. In a related transaction, Beijing Jingneng Clean Energy Power Co., Ltd. agreed to acquire Ningxia Kaiyang New Energy Co., Ltd. from Ningxia Jiaze Renewables Corporation Limited for approximately CNY 380 million. As on December 31, 2020, Ningxia Boyang New Energy Co.,Limited reported assets of CNY 1.9 billion, net assets of CNY 51.6472 million, EBIT of CNY 263.9553 million and total common equity of CNY 772.4351 million. Transaction is approved by the Board of Ningxia Jiaze Renewables Corporation Limited. Transaction is approved by the shareholders of Ningxia Jiaze Renewables Corporation Limited.