BECE Legend Group Co., Ltd. (SZSE:000803) agreed to acquire 80% stake in Shandong Henghua Jiaye Environmental Protection Technology Co., Ltd. from Zhang Shuimao, Zhang Xiongjian, Zhang Yonghai and others for CNY 29 million on March 4, 2022. As part of the transaction, Zhang Shuimao, Zhang Xiongjian, and Zhang Yonghai will sell 38.96%, 13.54%, and 27.50%, respectively. Shandong Henghua Jiaye reported Total Assets of CNY 65.2 million and Net Assets of CNY 4.6 million as of October 31, 2021.

The transaction is approved by the board of BECE Legend and does not need the Shareholders' Approval.