Wangneng Environment Co.,Ltd (SZSE:002034) agreed to acquire Sludge harmless treatment business asset department of Huzhou Nantaihu Thermal Power Co., Ltd. on April 27, 2020. The consideration will be paid in cash. Wangneng Environment Co.,Ltd will pay the transaction price through its own funds and bank loans and pays according to the transaction progress to ensure the success of the transaction. As of December 31, 2019, Sludge harmless treatment business asset, reported revenue of CNY 36 million, net asset of CNY 18.7 million, total asset of CNY 38.8 million, operating income of CNY 13.4 million and net income of CNY 10 million.