Summary by Moomoo AI
China Carbon Neutral Development Group Limited (“China Carbon Neutral”) announced on 26 January 2024 that its wholly-owned subsidiary has entered into an equity transfer agreement with an independent third party Stable Sheen Limited (the “Seller”) to acquire the entire shareholding of China Ecological Environment Development Limited in a transaction for a price of HK$60.0 million。 The transaction is based on the target company's net unaudited consolidated assets as of 31 December 2023 of approximately HK$75.0 million. The target company was founded in 2019 and is primarily engaged in the investment business of environmental protection and ecological remediation solutions. The acquisition will enable the China Carbon Neutral Group to achieve synergies, enhance operations and profitability, and expand its business plan. Under the Listing Rules, this acquisition constitutes a disclosable transaction.