Summary by Moomoo AI
China Carbon Neutral Development Group Limited (“China Carbon Neutral”) announced on 26 January 2024 that its wholly-owned subsidiary China Carbon Neutral Group Limited has entered into an equity transfer agreement with the seller Stable Sheen Limited to acquire 100% of the shareholding in China Ecological Environment Development Limited for a transaction price of HK$60.0 million Million yuan. The transaction is based on a net unaudited consolidated net asset value of the target company at approximately HK$75.0 million as of 31 December 2023. The target company was founded in 2019 and is primarily engaged in the investment business of environmental protection and ecological remediation solutions. Upon completion of the acquisition, China Carbon Neutral will expand its carbon neutral business scope through the business of the target company and is expected to enhance the Group's operations and profitability. Under the Listing Rules, this acquisition is a Discloseable Transaction.