BSM Chemical Co.,Ltd. (SZSE:300796) agreed to acquire remaining 80% stake in Ningbo Generic Chemical Co., Ltd. from Shanghai Chutongjie Enterprise Management Partnership Enterprise (Limited Partnership) and Shanghai Fengtong Business Information Consulting Partnership Enterprise (Limited Partnership) for approximately CNY 350 million on October 20, 2023. As on June 30, 2023, Ningbo Generic Chemical Co., Ltd. generated total assets of CNY 430.09 million and net assets of CNY 34.5739 million. The purchase will be paid in three installments, with the first installment of 62.5% of the total price (CNY 217.5 million) due within five business days of the closing date. The second installment, for 25% of the total price, which is CNY 87 million. The third installment is for 12.5% of the total price, which is CNNY 43.5 million. The transaction is approved by board of directors of BSM Chemical Co.,Ltd. and is subject to approval by the shareholders of BSM Chemical Co.,Ltd. Zhongtai Securities Co., Ltd. acted as Financial advisor and Jincheng Tongda & Neal acted as legal advisors to BSM Chemical Co.,Ltd.

BSM Chemical Co.,Ltd. (SZSE:300796) completed the acquisition of remaining 80% stake in Ningbo Generic Chemical Co., Ltd. from Shanghai Chutongjie Enterprise Management Partnership Enterprise (Limited Partnership) and Shanghai Fengtong Business Information Consulting Partnership Enterprise (Limited Partnership) on December 8, 2023.