Shanxi Meijin Energy Co., Ltd. (SZSE:000723) signed an agreement to acquire 22.9% stake in Hongji Chuangneng Technology (Guangzhou) Co., Ltd. from Guangzhou Hongjin Investment Co., Ltd. for CNY 45.9 million on September 22, 2020. As of December 31, 2019, Hongji Chuangneng Technology (Guangzhou) Co., Ltd. reported total assets of CNY 154.9 million, total common equity of CNY 55.5 million, total revenue of CNY 1.7 million and net loss of CNY 35.6 million. The transaction is approved by Board of Directors of Shanxi Meijin Energy Co., Ltd.