China Crystal New Material Holdings Co.,Ltd. (KOSDAQ:A900250) agreed to acquire 85% stake in Ping Jiang Material Technology Limited for KRW 37.3 billion on February 19, 2024. Under the terms, China Crystal issued 25.5 million shares as consideration. As of December 31, 2023, Ping Jiang Material Technology Limited reported total assets of KRW 27.8 billion, total debt of KRW 10.6 billion, and total capital of KRW 17.2 billion.

The deal is expected to be completed on February 27, 2024.