Huijin Juhe (Ningbo) Investment Management Co., Ltd. signed a share transfer agreement to acquire 55.1% stake in Poway Technology Co., Ltd. from Poten Environment Group Co., Ltd. (SHSE:603603) and Skylines (Beijing) Technology Co., Ltd. for CNY 55.1 million on June 26, 2019. As of December 31, 2019, Poway Technology reported total assets of CNY 103.6 million, total common equity of CNY 88.15 million, revenue of CNY 73.24 million and net loss of CNY 8.26 million. The transaction was approved by the board of directors of Poten Environment Group on the 10th Meeting of the Company’s 3rd Directorate held on June 25, 2019. The transaction does not need the shareholders’ approval of Poten Environment Group. Huijin Juhe (Ningbo) Investment Management Co., Ltd. cancelled the acquisition of 55.1% stake in Poway Technology Co., Ltd. from Poten Environment Group Co., Ltd. (SHSE:603603) and Skylines (Beijing) Technology Co., Ltd. on June 26, 2020.