Hunan Development Group Co., Ltd. agreed to acquire 3.06% stake in Hunan Zhijiang Mangtangxi Water Conserva Ncy & Hydropower Development Co., Ltd. from Hunan Huaihua Hengguang Electric Power G Roup Co., Ltd. for CNY29 million.

Hunan Development Group Co Ltd is a China-based company principally engaged in the clean energy, natural resources, and medical and health-related businesses. The Company primarily operates its businesses through five segments. The Investment Management segment is mainly engaged in equity investment, mergers and acquisitions and other businesses. The Clean Energy segment is mainly engaged in the investment, development, construction, operation, and management of clean energy projects such as hydropower and photovoltaic power generation. The Natural Resources segment is mainly engaged in the sales of river sand, river pebbles, gravel and other products. The Medical Care and Health segment is mainly engaged in community home care, government-purchased home care, smart care information platform and related businesses. The Service Industry and Other segment is mainly engaged in hotel operation, property management, and self-owned house leasing.