Yurong Group: Intends to acquire 65% equity of Anhui Runsheng Electric Power Technology Co., Ltd. for approximately 37.5 million yuan.

Yurong Group announced on June 12 in the Hong Kong Stock Exchange that it plans to acquire 65% equity of Anhui Runsheng Electric Power Technology Co., Ltd. for approximately 37.5 million yuan. Once completed, the company will have actual ownership of 65% of the target company's equity, making the target company an indirect non-wholly-owned subsidiary of the company. The target company is mainly engaged in providing warehousing services and also generates rental income by leasing out its investment properties.