On September 30, 2026, Anhui Conch Cement Company Limited (ASX: 00914) announced that Anhui Conch Environmental Group and Wuhu Conch Environmental (as buyers), subsidiaries of its non-wholly-owned subsidiary Conch Environmental, and Anhui Haijing (as seller) separately entered into equity transfer agreements with each target company. The total acquisition consideration under the four equity transfer agreements amounts to RMB 307 million, with details as follows: (1) The buyer, the seller, and Tianjin Hanyang entered into the Tianjin Agreement, under which the buyer agreed to acquire and the seller agreed to sell 100% equity of Tianjin Hanyang for a consideration of RMB 136 million; (2) The buyer, the seller, and Shenyang Hanyang entered into the Shenyang Agreement, under which the buyer agreed to acquire and the seller agreed to sell 100% equity of Shenyang Hanyang for a consideration of RMB 109 million; (3) The buyer, the seller, and Dalian Hanyang entered into the Dalian Agreement, under which the buyer agreed to acquire and the seller agreed to sell 100% equity of Dalian Hanyang for a consideration of RMB 37 million; and (4) The buyer, the seller, and Tieling Hanyang entered into the Tieling Agreement, under which the buyer agreed to acquire and the seller agreed to sell 100% equity of Tieling Hanyang for a consideration of RMB 25 million.

The main business of these target companies is the collection and disposal of medical waste. As a livelihood-related essential environmental protection business, medical waste disposal is subject to strict industry policy regulation, has a stable charging mechanism, and possesses favorable development attributes. At the same time, medical waste disposal is also a core business that Conch Environmental focuses on developing. This acquisition is a key initiative for Conch Environmental to expand into the Northeast and Bohai Rim regional markets, helping to promote long-term stable operations and high-quality development of Conch Environmental's medical waste business.

Shenyang Hanyang and Dalian Hanyang each hold local medical waste disposal franchise rights, while Tieling Hanyang has signed a long-term cooperation agreement for medical waste collection and disposal with the local government, providing a stable and reliable business foundation. The region where Tianjin Hanyang operates is densely populated with abundant medical resources. Tianjin Hanyang has long been deeply engaged in the local market, with a well-established service system and a solid customer base.

Conch Environmental has mature operational experience in medical waste projects. This acquisition can smoothly integrate the businesses of these target companies into its existing operational system, ensuring stable and orderly operations, effectively enhancing Conch Environmental's asset operational efficiency, and aligning with the company's development interests.

The environmental protection industry, which is Conch Environmental's main business, is an important component of the company's diversified development strategy. It can generate strong industrial synergy with the group's cement main business, helping the group's green and low-carbon transformation. The company actively supports Conch Environmental in broadening its environmental protection industry layout and improving operational quality.