On February 1, Gelonghui Environmental Technology (01845.HK) issued an announcement. Recently, the transferor plans to transfer all of its 39.23% shares in Weigang Hongda to the transferee at a cost of RMB 29.214,300. The board of directors passed a resolution on February 1, 2024 approving (among others) Debo Environmental's waiver of priority transfer rights to acquire the transferred shares. On the same day, Debo Environmental also signed a shareholder resolution of Weigang Hongda to approve the transfer and change the shareholder from transferor to transferee.
After the transfer is completed, Weigang Hongda will maintain 50.27%, 39.23% and 10.5% of Debo Environment, the transferee and Ji Shenghuan respectively. Therefore, there will be no change in the company's indirect shareholding ratio, and Weigang Hongda will remain an indirect non-wholly-owned subsidiary of the company.