Xincheng announced that Fangyao Energy, a wholly-owned company under the company, plans to use the raised capital to acquire 100% of the shares of Jiangmen Honglun Renewable Energy Co., Ltd., at a purchase price of RMB 5.347 million and assume the underlying corporate debt of RMB 6.1409 million. The company's board of directors has reviewed and passed the bill, and there is no need to submit this transaction to the shareholders' meeting for consideration.

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