Road Environment Technology.,Ltd signed Investment Cooperation Agreement to acquire 80% stake of Wuhan Shangyuan Hengyun Environmental Protection Technology Co., Ltd. from Wuhan Shangyuan New Energy Environmental Co., Ltd for CNY 0.
November 19, 2020
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Road Environment Technology.,Ltd (SHSE:688156) signed Investment Cooperation Agreement to acquire 80% stake of Wuhan Shangyuan Hengyun Environmental Protection Technology Co., Ltd. from Wuhan Shangyuan New Energy Environmental Co., Ltd for CNY 0 on November 18, 2020. For the year ended December 31, 2019, Shangyuan Hengyun reported total assets of CNY 0.01 million, Net Liabilities of CNY 0.05 million, Revenue of CNY 0 million and Net loss of CNY 195.13. The transaction is approved by board of directors of Road Environment Technology and does not need the shareholders’ Approval.
Road Environment Technology Co Ltd is a China-based company mainly engaged in the research and development and industrial application of food and beverage residues, high-concentration brewing wastewater, sludge and solid waste harmless treatment and resource utilization technology. The Company focuses on the treatment and utilization of high water content waste such as distiller's grains, brewing wastewater, river and lake sludge, and engineering mud. Its main products and services include production and sales of distiller's grain bio-fermentation feed, river and lake sludge, and engineering mud treatment services. The Company primarily operates in the domestic market.
Road Environment Technology.,Ltd signed Investment Cooperation Agreement to acquire 80% stake of Wuhan Shangyuan Hengyun Environmental Protection Technology Co., Ltd. from Wuhan Shangyuan New Energy Environmental Co., Ltd for CNY 0.
ROAD ENVIRONMENT TECHNOLOGY CO.,LTD. 
