Gelonghui, January 4, 丨 Mandi Technology Co., Ltd. (01400.HK) announced that on January 4, 2024, the company, the seller, Meitao and Mr. Xie Yang signed a memorandum of understanding. According to the memorandum of understanding, the company intended to acquire and acquire from the seller, and the seller intended to sell and transfer about 20% to 28% of the issued share capital of the target company China Tianyifu Holding Group Co., Ltd. to the company.

The target company is an exempted limited company incorporated in the Cayman Islands under the Cayman Islands Companies Act. Its main business is investment holding. The subsidiaries of the target company are mainly engaged in environmental protection services such as sewage treatment and soil remediation, including the design, construction, operation and maintenance services of related facilities and the sale of related equipment. The target company's shares are listed on the Hong Kong Stock Exchange GEM (stock code: 8196).

The directors believe that one of the main businesses of the target company's subsidiaries is industrial sewage treatment, which is a downstream business of the Group's fabric manufacturing and elastic ribbon business. The possible acquisition could reduce manufacturing wastewater treatment costs and diversify the Group's business.