SINOMA resolved to enter into the asset purchase agreement on 21 August 2015 with Sinoma Science & Technology, a subsidiary listed company of SINOMA pursuant to which, SINOMA has agreed to dispose and Sinoma Science & Technology has agreed to acquire the Taishan Equity Interest. The consideration for the Taishan Equity Interest is approximately RMB3.85 billion. At the same time, Sinoma Science & Technology also resolved to issue by way of non-public offer subscription shares to 8 qualified designated investors to raise proceeds of no more than RMB3.181 billion.

Sinoma Science & Technology Co. Ltd ( SSTCL ) is the largest new and high-tech enterprise integrating research, design, product manufacture and sale, complete technology and equipment supply in the specialty fiber composites industry in China. Taishan Fiberglass Int. is the world's TOP 5, one of China's TOP 3 fiberglass manufacturers, its fiberglass production capacity reaches 50 million t/y, the products widely used in construction, transportation, electronics, aerospace and other economic field, exported to more than 70 countries and regions.

Through restructuring, SSTCL will be the best wind power blade supplier and the TOP 3 fiberglass manufacturer in domestic, and implement integrate of glassfiber field and composite material industry chain.

distributed by