On 23 August 2017, Xingyuan Environmental Science and Technology LLC (stock name: Xingyuan Environmental, stock code: 300266) bought 100% shares of Zhejiang Totan Environmental Science and Technology Service Co., Ltd. (referred to as "Totan Environmental") from 12 counterparties including JingweiZhongYao Holding Group Co., Ltd. (referred to as "JingweiZhongYao").by issuing shares. The transaction was approved by Review Committee of Merger, Acquisition and Reorganization of Listed Companies of China Securities Regulatory Commission.
Totan Environmental is a comprehensive environmental protection service enterprise integrating water control and environmental industry planning, software development and system integration, products research and sales, as well as operation and maintenance. Totan Environmental depends on independent research and development technology, with the wisdom water control and environmental protection as starting point, provides the Internet of things control, development and construction of cloud platform for information processing, research & development and sales of sewage treatment equipment,undertaking, operation and maintenance services of sewage treatment project for customers. it has seized certain market opportunities inintelligent water control, environmental Internet of things control and cloud platform for information processing for government departments.
Xingyuan Environmental is a comprehensive environmental protection enterprise, and the business scope covers the production and sale of environmental equipment, dredging and sludge treatment, industrial and municipal wastewater treatment, and ecological environment restoration and so on.
The transaction will help to improve its business layout, enabling its current environmental governance services to extend to upstream real-time monitoring and downstream operation and maintenance field, supporting its business integration and extension of industrial chain.
Guantao acts as the issuer's legal advisor. The lead counsel and responsible people of the project are senior partner Mr. Zhang Wenliang and associate Mr. Bo Chunjie.