Zhejiang Feida Environmental Science & Technology Co., Ltd. (SHSE:600526) agreed to acquire Zhuji Tongchen Environmental Engineering Co., Ltd. from Zhuji Green Sword Environmental Protection Equipment Co., Ltd. for CNY 79.9 million on December 31, 2013. The consideration will be paid within 10 days from the effective date of the agreement. Zhuji Tongchen Environmental reported total assets of CNY 253.32 million, owner's equity of CNY 30.99 million for the period ended November 30, 2013.

The transaction was approved by the Board of Directors of Zhejiang Feida. The shareholders of Zhejiang Feida Environmental Science & Technology Co., Ltd. approved the transaction on September 10, 2015.