Agile Eco Technology (Hong Kong) Limited entered into an agreement to acquire remaining 50% stake in Xintao Investment Co, Ltd. from CT Environmental Group Limited (SEHK:1363) for CNY 610 million on December 18, 2019. The consideration shall be payable by bank transfer by Agile Eco in the following manners: the First Instalment of CNY 190 million be paid to the bank account designated by the CompanCT Environmental Group Limited within 5 business days after the fulfilment of the condition precedent. At the same time, CT Environmental Group Limited shall repay the respective loans due to Yulin Xintao and Bobai Yantao by repaying CNY 170 million to the bank account designated by Yulin Xintao and CNY 20 million to the bank account designated by Bobai Yantao; the second instalment of the consideration in an amount of CNY 260 million will be paid to the bank account designated by CT Environmental within 3 business days after the fulfilment of (a) above; and the Third Instalment of CNY 160 million will be paid to the bank account designated by CT Environmental by January 10, 2020. The unaudited total assets value and net assets value of Xintao Investment as at October 31, 2019 were approximately CNY 1.03 billion and CNY 1.02 billion respectively. The unaudited net losses before and after tax of Xintao Investment for the year ended December 31, 2018 is CNY 0.19 million. As at the date of the announcement, Tsui Cham To, and Keen Vast holding approximately 53.19% of the issued share capital of CT Environmental Group Limited, has provided a written Shareholders’ approval on entering into the agreement and the Transaction. Pursuant to the terms of the Agreement, completion is expected to be on and before January 10, 2020. After deducting the expenses and taxes directly attributable thereto, will be approximately CNY 609 million which will mainly be used for the partial repayment of banking facility of ICBC, the repayments for advances from Yulin Xintao and Bobai Yantao and general working capital.