Zhejiang Kaisn Fluorochemical Co., Ltd. agreed to acquire additional 49% stake in Zhejiang kaisn Electronic Materials Co., Ltd from Hangzhou Greenda Electronic Materials Co., Ltd. for approximately CNY 12 million.

Zhejiang Kaisn Fluorochemical Co., Ltd. agreed to acquire remaining 49% stake in Zhejiang kaisn Electronic Materials Co., Ltd from Hangzhou Greenda Electronic Materials Co., Ltd. (SHSE:603931) for approximately CNY 12 million on August 1, 2022. After the completion of the equity transfer Zhejiang kaisn Electronic Materials Co., Ltd will become become a wholly-owned subsidiary of the buyer. as of June 30, 2022, Zhejiang kaisn Electronic Materials reported total revenues of 47.001683 million, Total assets of 55.180667 million, Net income of 0.166591 million and total common equity of 18.745647 million.

This transaction has been approved at the 13th meeting of the second board of directors.