Henan Lantian Gas Co.,Ltd. (SHSE:605368) agreed to acquire CGN Yulong (Henan) New Energy Co., Ltd. from Changge Yulong Industrial Co., Ltd. for approximately CNY 340 million on December 15, 2021. This acquisition is a cash acquisition. Board of Directors of Henan Lantian Gas Co.,Ltd. unanimously approved the transaction.

As of December 18, 2021, After negotiation, the purchase price was determined with reference to the market price, specifically CNY 340 million. Payment method, Within three days from the date of signing the Equity Transfer Agreement, the transferee shall pay 95% of the transfer price of the transferred equity to the transferor, totaling CNY 323 million and Within five days after the target company completes the industrial and commercial change procedures related to the equity transfer, the transferee shall pay the remaining transfer price of the transferred equity to the transferor, a total of CNY 17 million.