China Carbon Neutrality (01372.HK) plans to acquire all shares in China Ecological Environment Development for HK$60 million

Gelonghui Finance ·  Jan 26 06:08

Gelonghui, January 26, 丨 China Carbon Neutrality (01372.HK) announced that on January 26, 2024, China Carbon Neutrality Group Co., Ltd. (buyer), a wholly-owned subsidiary of the company, entered into a sales agreement with the seller. According to this, the buyer has agreed to the acquisition, and the seller has agreed to sell all of the shares of the target company China Ecological Environment Development Co., Ltd. at a cost of HK$60.0 million.

The target company is an investment company established in Hong Kong on June 21, 2019. As of the date of this announcement, its paid-up capital was HK$10,000. The target company is mainly engaged in investment business. The target company's subsidiaries provide environmental protection and ecological restoration solutions in China, including various fields such as greening, mountain vegetation restoration, sewage treatment, atmospheric treatment, wetland restoration, and reuse of waste materials.

According to the target company's unaudited financial statements for the year ended December 31, 2023, as of December 31, 2023, the target company's subsidiaries provided environmental protection and ecological restoration solutions domestically, which can have an effect with the group's carbon-neutral business and achieve synergistic effects to enhance the group's operations and profitability. The Board believes that the acquisition will further expand the Group's business plans. The board of directors believes that it is in the company's interest for the buyer to acquire sales shares from the seller.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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