The subsidiary company of Shandong High Speed Renewable Energy (000803.SZ), Shangao Shifang, plans to acquire 100% equity of Zhuzhou Reiser for 20.19 million yuan in 2019.

Shandong High Speed Renewable Energy (000803.SZ) announced that its subsidiary, Shangao Shifang Environmental Energy Group Co., Ltd. (referred to as "Shangao Shifang"), plans to acquire 100% equity of Zhuzhou Ruise Environmental Protection Technology Co., Ltd. (referred to as "Zhuzhou Ruise") held by individuals Zhao Liang and Zhang Chenlin in cash, and to acquire 100% equity of the target company's wholly-owned subsidiary, Zhuzhou Shanrui Environmental Protection Technology Co., Ltd. (referred to as "Zhuzhou Shanrui" or "the project company"). The transaction price for the equity is 20,190,000 yuan. After the acquisition, the company will hold 100% equity in Zhuzhou Ruise, and Zhuzhou Ruise and Zhuzhou Shanrui will be included in the company's consolidated financial statements. According to the announcement, Zhuzhou Ruise has been deeply involved in the environmental protection field for many years and is located in the core economic zone of "Chang-Zhu-Tan" in Hunan Province. The oil content of kitchen waste in the project area is relatively high. On May 6, 2024, the government subsidy for kitchen waste of the project company was increased from 142 yuan/ton to 273 yuan/ton. On March 2, 2015, the project company signed a BOT franchise agreement for the Zhuzhou City kitchen waste disposal project with the Zhuzhou Urban Management Bureau. The franchise period is 30 years (including the construction period), and the franchise scope covers the central urban area of Zhuzhou City (including Tianyuan District, Lusong District, Hetang District, Shifeng District, and Yunlong Demonstration Zone). The project company's kitchen waste disposal capacity is 150 tons/day (increased to 200 tons/day after technical renovation). Through the implementation of this transaction, the company can achieve cross-regional development of kitchen waste processing business and enhance its market share, business scale, and profitability.