Shanghai Tongji Science & Technology Industrial Co.,Ltd (SHSE:600846) agreed to acquire additional 35.89% stake in Shanghai Tongji Environmental Engineering Technology Co., Ltd. from Tongji Innovation and Entrepreneurship Holdings Ltd. and Shanghai Urban Pollution Control Engineering Research Center Co., Ltd. for CNY 58.5 million on October 22, 2020. Based on the assessed value, the 26.73% equity of Shanghai Tongji Environmental Engineering Technology Co., Ltd. held by Tongji Innovation and Entrepreneurship Holdings Ltd. will be acquired for a consideration of CNY 43.59 million and the 9.16% stake held by Shanghai Urban Pollution Control Engineering Research Center Co., Ltd. will be acquired for a consideration of CNY 14.94 million. After the completion of the acquisition, Shanghai Tongji Environmental Engineering Technology Co., Ltd. will become a wholly-owned subsidiary of Shanghai Tongji Science & Technology Industrial Co.,Ltd. For the year ended December 31, 2019, Shanghai Tongji Environmental Engineering Technology Co., Ltd. reported total assets of CNY 539.37 million, owner's equity of CNY 144.01 million, revenue of CNY 168.34 million and net profit of CNY 13.16 million. On October 22, 2020, the Fifth Extraordinary Meeting of the Ninth directorate of thShanghai Tongji Science & Technology Industrial Co.,Ltd reviewed and approved the transaction.