Oak shares intends to transfer 37% equity of Dongshuo Environmental Protection

Sinochem News.
com News on September 6, Oak shares announced that the company intends to transfer its 37% stake in Shanghai Dongshuo Environmental Technology Co.
, Ltd.
(referred to as Dongshuo Environmental) to the company's holding company at a price of 59,486,600 yuan.
Shareholder Oak Group, divested its environmental protection business in industrial wastewater treatment
.
After the completion of this transaction, the company will no longer hold the equity of Dongshuo Environmental Protection

Oak shares stated that in order to implement the company’s 14th Five-Year Plan, further focus on its main business, and strive to build the company into a world-class manufacturer of epoxy-derived green low-carbon fine chemicals and new energy and new materials, the company’s decision to divest is not in line with the company’s Environmental protection business of industrial wastewater treatment in the "14th Five-Year" development plan

The company intends to transfer 37% of Dongshuo Environmental Protection's equity, which is conducive to further optimizing the company's asset structure and focusing on accelerating the development of epoxy-derived green low-carbon fine chemicals and new energy and new materials