According to the Zhitong Finance App, China Environmental Technology (00646) announced that on May 7, 2023, the company signed a share transfer agreement with the seller Hong Kong Jiahua Science and Technology Investment Co., Ltd. According to this, the company conditionally agreed to acquire and the seller conditionally agreed to sell 50% of the shares of the target company, China-Hong Kong Environmental Technology (Guangzhou) Co., Ltd., at a transaction price of HK$1.

At the same time, the company, the seller, Yuming Environmental and Yanhua Environmental signed a shareholder agreement. According to the shareholders' agreement, the target company's registered capital is HK$60 million. The company holds 50% of the shares, the seller holds 30% of the shares, and Yuming Environmental and Yanhua Environmental each hold 10% of the shares. Shareholders of each party pledge their capital in cash, and the pledge period is subject to the lifetime of the target company. The target company will be committed to developing, integrating, selling, operating, and servicing complete equipment and technology for solid waste environmental protection projects and new energy projects.

Before the acquisition was completed, the target company held 75% of the shares, Sanhe Technology held 15% of the shares, and Yu Minghuan held 10% of the shares. After the acquisition was completed, the target company held 50% of the shares, the seller held 30% of the shares, and Yuming Environmental and Yanhua Environmental each held 10% of the shares.