Hengtong Optic-Electric Co., Ltd. (SHSE:600487) agreed to acquire 19% stake in HMN International Co. Ltd. from Global Marine Holdings, LLC for $32 million on June 30, 2022. The proceeds were used to repay $15 million of the corporate credit line and provide $10 million of working capital funding to DBMG through intercompany and fund normal overhead costs in the first quarter.

Hengtong Optic-Electric Co., Ltd. (SHSE:600487) completed the acquisition of 19% stake in HMN International Co. Ltd. from Global Marine Holdings, LLC on March 6, 2023.