CASIN Real Estate Development Group Co., Ltd. (SZSE:000838) agreed to acquire the remaining 35% stake in Chongqing CASIN Contract Energy Management Co., Ltd from Chongqing Casin Environmental Resources Co., Ltd. for CNY 17.8 million on July 22, 2020. The transaction will be financed from Casin Real Estate’s own funds. Prior to the transaction, Casin Real Estate holds 65% in Chongqing CASIN Contract Energy Management while Chongqing Casin Environmental Resources holds the remaining 35% stake. Chongqing CASIN Contract Energy Management reported total assets of approximately CNY 810 million, net assets of CNY 59.6 million, operating income of approximately CNY 110 million, net profit of CNY 7.5 million and operating profit of CNY 10 million in the year ending on December 31, 2020. The transaction was approved by the Board of Directors of Casin Real Estate.