On June 13th, Gelonghui announced that Fantuo Shuchuang (301313.SZ) is a company jointly owned by Li Tianbing and Jinyan Xi of Zhonggong Water Affairs, Yukun Jun, He Weipiao, and Liang Junjie. The company plans to use its own funds to purchase 100.00% equity of Zhonggong Water Affairs held by Li Tianbing, Jinyan Xi, Yukun Jun, He Weipiao, and Liang Junjie. After the completion of this transaction, Zhonggong Water Affairs will become a wholly-owned subsidiary of the listed company. After negotiation among the trading parties, the transaction was priced at 79,000,000 yuan.

The target company focuses on information construction in the drainage industry, providing smart drainage technical services to urban drainage administrative departments and water operation enterprises, and has hardware integration service capabilities, focusing on the location survey, construction, installation and commissioning, and operation and maintenance of smart water monitoring instruments. The company is a national specialized, special and new "little giant" enterprise, Guangdong Province Drainage and Smart Operation Engineering Technology Research Center, with information system construction and service capability evaluation certificates, software enterprise certificates, municipal industry water supply and drainage engineering design Class III qualifications, and also holds many patents for inventions, utility models and appearance.