Suzhou Industrial Park Heshun Electric Co., Ltd. (SZSE:300141) signed Share Transfer Agreement to acquire Zaozhuang Leye Lüxiao Electric Power Technology Co., Ltd. from Xi'an Leye Lüxiao Power Technology Co., Ltd. for CNY 96 million on December 3, 2021. Under the terms, Suzhou Industrial Park Heshun Electric will pay CNY 0.02 million for equity and CNY 95.8 million for unpaid EPC project payment, equipment purchase payment, land rent, power station operation and maintenance fees and other related debts payable by Zaozhuang Leye Lüxiao Electric Power with own funds and debt obligations. As of September 30, 2021, Zaozhuang Leye Lüxiao Electric Power reported total assets of CNY 96.9 million and net assets of CNY 0.56 million.

The transaction is subject to approval by board of directors of Suzhou Industrial Park Heshun Electric and does not need to be submitted to the shareholders meeting for review.