Dymatic Chemicals,Inc. (SZSE:002054) signed an agreement to acquire 50% stake in Wacker Dymatic Silicones (Shunde) Co., Ltd. from Wacker Chemicals (China) Company Ltd. for CNY 69 million on January 26, 2024. The consideration consists of CNY 69 million in cash. As part of the consideration, CNY 69 million was paid towards common equity.

Prior to the transaction, Dymatic Chemicals,Inc. (SZSE:002054) held 50% stake. Wacker Dymatic reported total assets of CNY 120.4 million, net asset of CNY 84.4 million, revenue of CNY 141.4 million, operating profit of CNY 13.6 million and net profit of CNY 12.2 million for the period ending December 31, 2023. The transaction was approved by the Board of Directors of Dymatic Chemicals and is expected to complete on February 1, 2024.