China Pingmei Shenma Group Kaifeng Dongda Chemical Co., Ltd. agreed to acquire Henan Yicheng Environmental Technology Co., Ltd. from Henan Yicheng New Energy Co., Ltd. (SZSE:300080) for approximately CNY 200 million on December 4, 2020. The transfer consideration is CNY 200.3683 million. Kaifeng Dongda shall pay 50% of the consideration of the underlying asset transaction within 5 working days after the agreement becomes effective, and the remaining price shall be paid in installments within 6 months from the delivery date. As of December 31, 2020, China Pingmei Shenma Group Kaifeng Dongda Chemical paid 50% of the consideration, i.e CNY 100.2 million. As at September 30, 2020, Henan Yicheng Environmental Technology had total assets of CNY 197.83 million and owner's equity of CNY 145.16 million. Henan Yicheng New Energy agreed the transaction at the 13th meeting of the company's fifth Board of Directors on December 4, 2020. Henan Yicheng New Energy's 4th special shareholders’ meeting for 2020 held on December 21, 2020 approved this transaction. China Pingmei Shenma Group Kaifeng Dongda Chemical Co., Ltd. completed the acquisition of Henan Yicheng Environmental Technology Co., Ltd. from Henan Yicheng New Energy Co., Ltd. (SZSE:300080) on June 30, 2021. As of December 31, 2020, Henan Yicheng New Energy already received CNY100.2 million from Kaifeng Dongda and as of June 30, 2021, Henan Yicheng New Energy already received the remaining consideration.