Guangdong Yinghe Enterprise Management Co., agreed to acquire 51% stake of Foshan Yingtong Electrical Materials Co., Ltd from Infore Environment Technology Group Co., Ltd. (SZSE:000967) for approximately CNY 260 million on December 28, 2020. Within 15 working days from after the agreement effective date, Guangdong Yinghe Enterprise Management Co., Ltd. must pay CNY 131 million and within 12 months, Guangdong Yinghe must pay CNY 124 million. For the year ended December 31, 2019, Foshan reported net assets of CNY 419.7 million, total assets of CNY 1.2 billion, net profit of CNY 39.7 million and revenue of CNY 2.7 billion. The transaction is approved by board of directors of Infore Environment and is subject to the Infore’s shareholders approval.