Sichuan Zigong Conveying Machine Group Co., Ltd. (SZSE:001288) agreed to acquire 20% stake in Tangshan Dengcheng Conveying Machinery Co., Ltd. from Qinhuangdao Haolong Energy Co., Ltd. for CNY 5 million on March 21, 2023. As per the agreement, Sichuan Zigong Conveying Machine shall remit the entire equity transfer price CNY 5 million, to the bank account designated by Qinhuangdao Haolong Energy within 10 days from the effective date of this agreement. Sichuan Zigong Conveying Machine Group will use its own funds of CNY 5 million for the acquisition.

Tangshan Dengcheng Conveying Machinery has reported net assets of CNY 30.450235 million on December 31, 2022. The board of Sichuan Zigong Conveying Machine Group has approved the deal at fifteenth meeting of the fourth board of directors and the eleventh meeting of the fourth board of supervisors held on March 21, 2023 and does not need to be submitted to Sichuan Zigong Conveying Machine Group's general meeting of shareholders for consideration.