Zhongshan Public Utilities completes acquisition of two environmental energy companies

Zhongshan Public Utilities Group Co., Ltd. (Zhongshan Public Utilities) announced the successful completion of the equity delivery and business registration changes for its acquisition of 100% equity in Changqing Environmental Energy (Zhongshan) Co., Ltd. and Zhongshan Changqing Environmental Heat Energy Co., Ltd. This transaction was carried out by Zhongshan Public Utilities' wholly-owned subsidiary, Zhongshan Public Utilities Environmental Energy Investment Co., Ltd.

The total consideration for the acquisition was RMB49,424.25 yuan, with Changqing Energy's 100% equity valued at RMB14,973.19 yuan and Changqing Heat Energy's 100% equity at RMB34,451.06 yuan. Both acquired companies are now wholly-owned subsidiaries of Zhongshan Public Utilities Environmental Energy Investment Co., Ltd.

Both acquired companies are now incorporated into Zhongshan Public Utilities' consolidated financial statements in accordance with enterprise accounting standards. Changqing Energy and Changqing Heat Energy are primarily engaged in power generation, transmission, and supply, with additional operations in wastewater treatment and solid waste management.