Newton Industrial Limited agreed to acquire 51% stake in Zhuhai Shenzhen Energy Hongwan Power Co.,Ltd from Shenzhen Energy Group Co., Ltd. (SZSE:000027) and Shenzhen Energy (H.K.) International Limited for CNY 370 million on July 27, 2021. The payment ratio of the first installment is 50%, of which Shenzhen Energy Group Co., Ltd. pays CNY 45.4295 million and Newton pays CNY 139.3318 million. They should pay in cash within 10 working days from the effective date of the contract. The remaining payment within 10 working days after completing the registration of equity change, each transferee shall pay the remaining equity transfer payment. For the year ended on April 30, 2021, Zhuhai Shenzhen Energy Hongwan Power reported total assets of CNY 842.243 million and owners equity of CNY 716.0381 million. The transaction has been approved by board of Shenzhen Energy Group Co., Ltd.