Spring City Hot Energy (01853.HK) has reached an agreement with its controlling shareholder group to acquire a number of heat production assets.

In June 16, 2025, Chun Cheng Heat (01853.HK) announced that the group has entered into the following agreements with the controlling shareholder group to acquire certain heat production assets: (a) the company and Chang Heat Group entered into Asset Transfer Agreement 1 for the proposed acquisition, with a price of 166 million yuan; (b) a wholly-owned subsidiary of Yatai Heat Company and Chang Heat Group entered into Asset Transfer Agreement 2 for the proposed acquisition, with a price of 41.709 million yuan; and (c) the company and Jilin Heat entered into Asset Transfer Agreement 3 for the proposed acquisition, with a price of 476,000 yuan.