Nanjing Chengzhi Clean Energy Co., Ltd. signed a letter of intent to acquire Shandong Bluestar Dongda (Nanjing) Co., Ltd. from Shenyang Chemical Industry Co., Ltd. (SZSE:000698) and Shandong Dongda Chemical Industry Co., Ltd. for approximately CNY 160 million on April 26, 2024. A cash consideration of CNY 158.39 million will be paid by Nanjing Chengzhi Clean Energy Co., Ltd. As part of consideration, CNY 158.39 million is paid towards common equity of Shandong Bluestar Dongda (Nanjing) Co., Ltd. The transaction is subject to approval of merger agreement by target board. The deal has been approved by the board.