Ningbo Baidinian Liquefied Petroleum Gas Co., Ltd. agreed to acquire Jiangsu Oriental Energy Storage Co., Ltd from Oriental Energy Co., Ltd. (SZSE:002221) for approximately CNY 510 million on March 15, 2024. Transaction have entered into share transfer agreement to acquire on March 25, 2024. The payment method for the equity transfer is cash.

Jiangsu Oriental Energy Storage Co., Ltd reported Total assets worth CNY 1.28 billion and Total common equity of CNY 406.3 million on September 30, 2023. Transaction has already been approved by Oriental Energy's board of director's.