Chongqing Sanfeng Environment Group Corp. (601827.SH) plans to transfer 51% of the equity interest in the municipal service company to its indirectly controlled shareholder.

Chongqing Sanfeng Environment Group Corp.,(601827.SH) announced that the company plans to transfer 51% equity (controlling rights) of Chongqing Sanfeng Urban Environmental Services Co., Ltd. (referred to as "Urban Services Company"), which is held by the company, to Chongqing Water Group Environmental Holdings Group Co., Ltd. (referred to as "Water Environment"), a wholly-owned subsidiary of its indirect controlling shareholder. The actual payment made by Urban Services Company for the equity transfer was RMB 70,077,009.29, and the payment was made in cash.