Wuhu Conch Investment Ltd. agreed to acquire Nehe Sangdi Environmental Protection Co., Ltd. from TUS ENVIRONMENTAL SCIENCE AND TECHNOLOGY DEVELOPMENT Co., LTD. (SZSE:000826) and Eguard New Energy Automobile Co., Ltd. for CNY 85 million on July 14, 2021. Total consideration includes CNY 26.5 million will be for the share transfer and CNY 58.5 million for the Nehe municipal solid waste incineration power generation project assets. TUS ENVIRONMENTAL SCIENCE AND TECHNOLOGY DEVELOPMENT will transfer Nehe Sangdi Environmental Protection Co., Ltd.'s 90% stake and Eguard New Energy Automobile Co., Ltd. will transfer 10%. As of December 31, 2020, Nehe Sangdi Environmental Protection Co., Ltd.'s reported Total Assets CNY 20 million and Net Assets of CNY 2.6 million.

Wuhu Conch Investment Ltd. terminated the acquisition of Nehe Sangdi Environmental Protection Co., Ltd. from TUS ENVIRONMENTAL SCIENCE AND TECHNOLOGY DEVELOPMENT Co., LTD. (SZSE:000826) and Eguard New Energy Automobile Co., Ltd. on June 6, 2023.