Conglin Environmental Protection to Buy Stake in Oil Processing Firm for 68 Million Yuan

MT Newswires Live

Jan 08, 2025

Shanghai Conglin Environmental Protection Technology (SHA:688370) plans to invest 68 million yuan to acquire a stake in Guangxi Fusion Bioenergy Technology and increase its capital, according to a Shanghai Stock Exchange filing on Wednesday.

Guangxi Fusion Bioenergy is a processor and trader of industrial oils, biodiesel and bioplasticizers.

The Chinese hazardous waste disposal services provider will acquire 21% of Guangxi Fusion Bioenergy from Xiamen Nuohongsheng Trading for 31.5 million yuan and will increase its capital by 36.5 million yuan.

After the transaction, Conglin will own 34% of Guangxi Fusion Bioenergy. The latter's registered capital will also rise to 200 million yuan.

The company's shares closed over 3% lower.

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The latter's registered capital will also rise to 200 million yuan.</p><p>The company's shares closed over 3% lower.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0218","symbol_name":"生态环境","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2501471417","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501471417","pubTimestamp":1736323434,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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