Hangzhou Juheshun New Material Co., Ltd. (SHSE:605166) agreed to acquire remaining 30% stake in Shandong Juheshun New Materials Co., Ltd. from Leqing Xinchuang Management Partnership (Limited Partnership) on November 3, 2022. Shandong Juheshun New Materials has reported total assets of CNY 0.3953 million and net assets of CNY 0.3953 million on December 31, 2021. The board of Hangzhou Juheshun New Material has approved the deal on November 3, 2022.

The deal does not need to be submitted to general meeting of shareholders of Hangzhou Juheshun New Material for consideration.