Zhitong Financial APP News, Integrated Environmental Protection Group (00923) issued an announcement that on October 5, 2023 (after the trading session), the company's wholly-owned subsidiary, Comprehensive Ring Services, entered into an agreement with the seller Zhang Yan, according to which the seller had conditionally agreed to sell, while Comprehensive Ring Services had conditionally agreed to purchase sales shares accounting for about 13.16% of the total shares of the target company Guangdong Anjie supply chain Management Co., Ltd. (870009). According to the terms and conditions of the agreement, the consideration is RMB 50 million.
According to the announcement, the investment in the target company meets the above criteria: the business area of the target company is encouraged by China's national policy; the target company is a well-known operator in China, especially holding the relevant license to transport hazardous chemicals, and the fast-growing new energy industry has a huge demand for such services; and the target company has a track record of profitability and can immediately contribute to the profitability of the group. One of the target group's business areas (hazardous waste transport) matches the group's business scope and meets the group's corporate goal of having a positive impact on the environment. There is also potential synergy between the target group and the indirectly invested hazardous waste disposal projects in China.