Yonker Environmental Protection Co.,Ltd. (SZSE:300187) signed a share transfer agreement to acquire 70% stake in Jiangsu Kangbo Industrial Solid Waste Disposal Co., Ltd. from Hangxiang Honghu (Hangzhou) Equity Investment Partnership Enterprise (Limited Partnership) for approximately CNY 600 million on April 13, 2020. Post acquisition, Hangxiang Honghu (Hangzhou) Equity Investment Partnership Enterprise (Limited Partnership) will hold 14.27% stake in Jiangsu Kangbo Industrial Solid Waste Disposal Co., Ltd. The transaction has been approved in the 19th meeting of Yonker Environmental Protection Co.,Ltd's 4th directorate and is subject to the Shareholders Approval. Jiangsu Kangbo Industrial Solid Waste Disposal Co., Ltd. recently applied to the registration authority and recently completed the relevant industrial and commercial change procedures for the proportion of equity that the Company has paid for 1st installment. In the future, after the payment of the remaining equity transfer payment is completed, Jiangsu Kangbo Industrial Solid Waste Disposal Co., Ltd will continue to go through the industrial and commercial change registration procedures for the corresponding proportion of equity. As on May 19, 2020 Yonker Environmental Protection Co.,Ltd. has completed the payment of the first phase of transaction payments and performance bonds of CNY 238 million and currently holds 21% stake in Jiangsu Kangbo Industrial Solid Waste Disposal Co., Ltd. As of December 31, 2019, Jiangsu Kangbo Industrial Solid Waste Disposal Co., Ltd has a revenue of CNY 219.1 million, total assets of CNY 348.9 million, net assets of CNY 138.9 million, operating profit of CNY 96.8 million and net profit of CNY 84.3 million.