Nanning Chemical Industry Co., Ltd. (SHSE:600301) intends to acquire Guangxi Bagui Engineering Supervision & Consulting Co., Ltd. from Guangxi Xijiang Development & Investment Group Co., Ltd. for approximately CNY 160 million on August 2, 2021. The consideration shall be paid to the bank account designated by Guangxi Xijiang Development & Investment Group Co., Ltd. within 20 working days from the effective date of this agreement. For the year ended on December 31, 2021, Guangxi Bagui Engineering Supervision & Consulting Co., Ltd. reported total assets of CNY 150 million. equity of CNY 100 million, Operating income of CNY 170 million and net profit of CNY 20 million. This proposal still needs to be submitted to the general meeting of shareholders for deliberation. The transaction has been approved by BOD of Nanning Chemical Industry Co., Ltd. As of August 18, 2021, transaction has been approved by shareholders of Nanning Chemical Industry. Nanning Chemical Industry Co., Ltd. (SHSE:600301) completed the acquisition of Guangxi Bagui Engineering Supervision & Consulting Co., Ltd. from Guangxi Xijiang Development & Investment Group Co., Ltd. on August 25, 2021