GLP Renewable Energy Investment II Limited agreed to acquire 25% stake in Ningxia Jialong New Energy Operation Management Co., Ltd from Ningxia Jiaze Renewables Corporation Limited for CNY 150 million.

GLP Renewable Energy Investment II Limited agreed to acquire 25% stake in Ningxia Jialong New Energy Operation Management Co., Ltd from Ningxia Jiaze Renewables Corporation Limited (SHSE:601619) for CNY 150 million on October 8, 2021. Post acquisition the buyer will own 25% stake in the target and Ningxia Jialong New Energy Operation Management Co., Ltd will own 75% stake in the target. The transaction can only be implemented after passing the anti-monopoly review of the concentration of undertakings.

This transaction was approved by the 1st session of Ningxia Jialong New Energy Operation Management Co., Ltd 3rd directorate, and still needs to be approved by Ningxia Jialong New Energy Operation Management Co., Ltd shareholders' meeting. As of October 26, 2021, the transaction has been approved by the Ningxia Jialong New Energy Operation Management Co., Ltd shareholders.