Grandway Advised Guosheng Energy on Acquisition of Control of Qianjing Landscape

Grandway advised Guosheng Energy Co., Ltd. (“Guosheng Energy”) on its acquisition of control of Beijing Qianjing Landscape Co., Ltd. (“Qianjing Landscape”, stock code: 603778) through a transfer agreement and subscription of non-public issue of shares.

Guosheng Energy is an emerging enterprise focusing on the layout of high-efficiency heterojunction solar cells in the industry. Its main business is landscape engineering construction and landscape design. Through this acquisition, it will transform to the photovoltaic industry and actively layout the heterojunction cell business.

Through the transfer agreement, Guosheng Energy was offered a total of 8% of shares held by Qianjing Landscape from Qianjing Landscape’s actual controller ( Hui Quanfu and Yang Jing), and the total number of shares transferred 51,428,572 shares. At the same time, it subscribed for 192,857,142 shares of the listed company’s non-public offering. The transaction has been completed through the agreed transfer, and Guosheng Energy will become the controlling shareholder of Qianjing Landscape after completing the subscription of the non-public issue of shares of the listed company.