Yuancheng Environment Co., Ltd. signed the equity acquisition agreement to acquire 51% of Guimi Electronic Equipment Co., Ltd. from Yoyodyne Inc for CNY 113.45 million.

Yuancheng Environment Co., Ltd. (SHSE:603388) signed the equity acquisition agreement to acquire 51% of Guimi (Changzhou) Electronic Equipment Co., Ltd. from Yoyodyne Inc for CNY 113.45 million on December 12, 2022. The transaction was approved by the 7th session of the Yuancheng Environment Co., Ltd. 5th directorate. After completion, the Yuancheng Environment Co., Ltd. (SHSE:603388) will directly own 51% stake in Guimi Electronic.

For the year ended September 30, 2022, Guimi (Changzhou) Electronic Equipment Co., Ltd. total asset is CNY 47.87 million and net asset is CNY 13.74 million.