Beijing Gerrytone Environmental Technology Co., Ltd agreed to acquire 22% stake in Beijing Innogreen Technology Co., Ltd. from Xiongan Kerong Environment Technology Co., Ltd. (SZSE:300152) for CNY 24.8 million on April 23, 2020. As part of the consideration, Beijing Gerrytone Environmental Technology Co., Ltd will pay CNY 24.82 million to Beijing Innogreen Technology, out of which CNY 6 million will be paid within 5 working days after the signing of this agreement, CNY 6 million will be paid within 20 working days after the signing of this agreement and CNY 12.82 million will be paid after all changes in industry and commerce. Post the acquisition, Xiongan Kerong Environment Technology Co., Ltd. (SZSE:300152) will hold 29.31% stake in Beijing Innogreen Technology Co., Ltd. The acquisition has been approved at the 30th meeting of the 4th directorate of the company and still needs to submit to the shareholders’ meeting. As of December 31, 2019, Beijing Innogreen Technology has a total assets of CNY 292.5 million, net assets of CNY 121.2 million, revenue of CNY 187.6 million and net profit of CNY 5.9 million. Beijing Gerrytone Environmental Technology Co., Ltd cancelled the acquisition of 22% stake in Beijing Innogreen Technology Co., Ltd. from Xiongan Kerong Environment Technology Co., Ltd. (SZSE:300152) on April 23, 2021.