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Wired News – China’s Cleantech Solutions Acquires 51% in Hong Kong’s Brighten Holdings Via Stock Swap Agreement with Ever-Long Holdings

Stock Monitor: Key Technology Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 08, 2017 / Active-Investors issued a free report on Cleantech Solutions International, Inc. (NASDAQ: CLNT) ("Cleantech Solutions"), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=CLNT as the Company's latest news hit the wire. On December 06, 2017, the Company announced that its wholly-owned subsidiary, EC Assets Management Limited ("EC Assets"), has entered into a conditional share swap agreement with Ever-Long Holdings Limited and its office bearers and directors ("Ever-Long"). Ever-Long is a financial services company listed on the Hong Kong Stock Exchange and deals in in securities, securities margin financing services, corporate finance services, etc. Sign up now for our free research reports at:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Key Technology, Inc. (NASDAQ: KTEC), which also belongs to the Industrial Goods sector as the Company Cleantech Solutions Intl. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=KTEC

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Cleantech Solutions most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=CLNT

Peter Woo, COO of Brighten, stated:

"CLNT has been actively involved in the acquisition of innovative technology and media businesses, which are the sectors Brighten has been actively investing in as well. The collaboration will provide Brighten with a broader global platform to further expand our innovative technology investment options and provide more fruitful returns to our investors."

Details of the share swap agreement

As per the terms of the share swap agreement EC Assets will acquire 51% interest in the issued share capital of Brighten Holdings International Limited from Ever-Long. Brighten is the subsidiary of Styland Holdings Limited, a company listed on the Hong Kong Stock Exchange. Incidentally Ever-Long is also fully owned by Styland. The transaction envisions Ever-Long will give 51% issued share capital Brighten. This includes 510,000 ordinary voting shares priced $32.25 per Brighten share valued $16,447,500 (approximately $16.44 million). In exchange the Company will give 19.5% of its issued and outstanding shares plus a 5-year interest-free promissory note of $13,762,125 (approximately $13.76 million) to Brighten. The agreement is subject to the signing of a definitive agreement between the two parties, the completion of the requisite financial due diligence, and other closing conditions.

The signing of the share swap agreement does not guarantee that the parties will enter into any agreement for a transaction or that after signing of any agreement for a transaction will lead to fruition.

About the acquisition - Brighten

The Styland Group was established in 1977 by Mr. Cheung Chi Shing and is listed on the Hong Kong Stock Exchange. The Group's main businesses include financial services, property development and investments. The Group, through its wholly-owned subsidiary Ever-Long Securities Company Limited, Ever-Long Capital Management Limited, and Ever-Long Finance Limited, offers stock broking, margin financing, corporate financing, asset management as well as mortgage financing services to clients.

Brighten is a boutique investment firm which was established in 2015 by Styland for investing in start-ups, small and medium sized enterprises, and high growth companies, typically with high gross profit margins. Brighten specializes in securitization, mergers and acquisitions, and direct investments into technology companies related to the sharing economy, O2O (offline to online and vice versa), and Fintech (finance technology).

Brighten's unaudited net profit for H1 2017 was HK$25 million. It also has invested in more than 30 technology companies either via direct investments or through joint ventures.

About Cleantech Solutions International, Inc.

Cleantech Solutions in based in Wuxi City, Jiangsu Province, China and through its affiliated companies designs, manufactures, and distributes a line of proprietary high and low temperature dyeing and finishing machinery to the textile industry. The Company has diversified its business in to the technology and global sharing economy markets and has been involved in development of online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models.

Stock Performance Snapshot

December 07, 2017 - At Thursday's closing bell, Cleantech Solutions' stock advanced 5.13%, ending the trading session at $5.94.

Volume traded for the day: 224.97 thousand shares.

Stock performance in the last month – up 56.32%; previous three-month period – up 78.38%; past twelve-month period – up 90.38%; and year-to-date - up 125.00%

After yesterday's close, Cleantech Solutions' market cap was at $15.62 million.

The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry. This sector was up 0.8% at the end of the session.

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