Zhejiang Haifeng New Material Co., Ltd. entered into an agreement to acquire Ningbo Youjia Clean Energy Supply Chain Co., Ltd. from Oriental Energy Co., Ltd. (SZSE:002221) for CNY 127 million on February 20, 2023. The consideration will be paid in cash and 30% of the consideration will be paid within 12 months months after the completion of equity delivery. The board of directors of Oriental Energy Co.

approved the the transaction. Ningbo Youjia Clean Energy Supply Chain recorded total assets of CNY 403.42 million, net assets of CNY 137.1 million, revenue of CNY 461.03 million, operating profit of CNY 15.99 million and net profit of CNY 14.52 million for the year ended December 31, 2022.