Anhui Gourgen Traffic Construction Co.,Ltd. (SHSE:603815) agreed to acquire 70% stake in Wuxi Boda New Energy Technology Co., Ltd. from Wuxi Boda Heyi Technology Co., Ltd. on August 29, 2023. The consideration will be made in cash and shares. As of September 11, 2023, 90% of the transaction price will be paid by share issuance, and 10% of the transaction price will be paid by cash.

Wuxi Boda New Energy Technology Co., Ltd. reported total assets of CNY 2.24 billion and net assets of CNY 306.32 million on March 31, 2023. This transaction still needs to be approved by the company?s directorate and the company?s shareholders? meeting and Shanghai Stock Exchange and CSRC.

The deal has been approved by board of directors of Anhui Gourgen Traffic Construction Co.,Ltd.