Hiconics Eco-energy Technology (300048.SZ) subsidiary plans to acquire a 15% stake in Meikang Photovoltaic.

Hiconics Eco-energy Technology (300048.SZ) announced that, to meet the needs of its long-term business development, its wholly-owned subsidiary Meikang Energy signed an Equity Transfer Agreement with Wang Shizhen. Meikang Energy plans to use its own funds of RMB 7.5 million to acquire a 15% equity interest in Hefei Midea Hiconics Photovoltaic Technology Co., Ltd. (referred to as "Meikang Photovoltaic") held by Wang Shizhen. Prior to this transfer, the company held an 80% equity interest in Meikang Photovoltaic through its wholly-owned subsidiary Meikang Energy; after the completion of this transfer, the company will hold a 95% equity interest in Meikang Photovoltaic through its wholly-owned subsidiary Meikang Energy. Meikang Photovoltaic will remain a controlled subsidiary of a subsidiary of the company, and the scope of the company's consolidated financial statements will not change.