Wuxi Huaguang Environment & Energy Group Co.,Ltd. signed a Share Transfer Agreement to acquire 52% stake in Tongxiang Puyuan GCL Environmental Thermal Power Co., Ltd. from Usual Win Limited and GCL Smart Energy Co. Ltd. for CNY 160 million on March 24, 2023. As of June 30, 2022, Tongxiang Puyuan GCL Environmental Thermal Power Co., Ltd reported total assets of approximately CNY 570 million and total common equity of approximately CNY 190 million.