Materials and Environmental Energy Resources (603071.SH) plans to acquire 100% equity of South Taihu Technology for 1.457 billion yuan.

Eastern Fortune Financial News App, Wuchan Environment and Energy (603071.SH) announced that the company plans to acquire 100% equity of Huzhou Nantai Lake Electric Power Technology Co., Ltd. held by Xinwang Energy with self-raised funds of 1.457 billion yuan. Nantai Lake Technology is a mature company in the field of cogeneration of heat and power in Zhejiang Province. The company sees good prospects for the development of the cogeneration industry and the target company, aiming to enhance its market share in the field of cogeneration of heat and power, further consolidate its leading position in the energy industry.