Grandtop Yongxing Group (601033.SH) plans to spend 330 million yuan to acquire a 41% stake in its affiliated company, Jiejing Company.

Grandtop Yongxing Group (601033.SH) announced that on January 10, 2025, the company signed an agreement with Beijing Punengrong Technology Co., Ltd. (referred to as "Punengrong") and Jijin Power Generation Co., Ltd. in Xinzhou City (referred to as "Jijin Company"). The company used its own funds of 330 million yuan to acquire 41.00% equity in its subsidiary Jijin Company. After the completion of the transaction, the company's shareholding in Jijin Company will increase from 49.00% to 90.00%, and it will be included in the consolidated financial statements. It is reported that Jijin Company was established in January 2009 and operates the Xinzhou Municipal Solid Waste Comprehensive Disposal (Vein) Industrial Park. It operates in a circular economy industrial park model, with business including waste incineration (design disposal capacity of 2,600 tons/day, already in operation), kitchen waste disposal (design disposal capacity of 200 tons/day, already in operation), sludge harmless disposal (design disposal capacity of 200 tons/day, already in operation), centralized steam and heat supply, photovoltaic power generation (100MW, under construction), etc. The company completed the acquisition of 49.00% equity in Jijin Company in February 2023. In order to implement the company's strategic development plan, expand the company's business area layout and business coverage, strengthen market development capabilities, increase business scale and profit capabilities, the company plans to further acquire 41.00% equity in Jijin Company and include it in the consolidated financial statements. After this acquisition, the company will be able to fully leverage its operational management and resource integration advantages, deepen the synergies with Jijin Company, enhance its operational capabilities and production efficiency, and improve the profit capabilities and investment return rate of Jijin Company.