ShenZhen GAD Environmental Technology Co., Ltd. (SZSE:300854) entered into an agreement to acquire Jiangxi Runzong Construction Engineering Co., Ltd. from Jiangxi Shushun Construction Co., Ltd. for CNY 28 million on July 11, 2022. On the transfer completion date, the Company will pay CNY 25 million. After the completion of the transfer, Jiangxi Province will issue a letter for Jiangxi Runzong Construction Engineering Co., Ltd.'s first-class qualification for general contracting of municipal public works construction, and on the day when the Company submits the information on Jiangxi Runzong Construction Engineering Co., Ltd.'s first-level general contracting qualification for municipal public works construction on the platform system of the three warehouses and one platform of the Guangdong Provincial Department of Housing and Urban-Rural Development, the Company will pay CNY 3 million.