Hubei Yihua Chemical Industry Co., Ltd. (SZSE:000422) signed share transfer agreement to acquire Guizhou Wanshan Yinhe Chemical Co., Ltd. from Hubei Yihua Group Limited Liability Company for CNY 53 million on October 16, 2020. As per terms of transaction, Consideration will be paid before December 31, 2020. As on August 31, 2020, Guizhou Wanshan Yinhe Chemical Co., Ltd. reported net assets of CNY 34.5130 million and total assets of CNY 46.7620 million. Transaction is subject to shareholder approval of Hubei Yihua Chemical Industry Co., Ltd. and is approved by Board of Directors of Hubei Yihua Chemical Industry Co., Ltd. Transaction is expected to complete before November 30, 2020. Hubei Yihua Chemical Industry Co., Ltd. (SZSE:000422) completed the acquisition of Guizhou Wanshan Yinhe Chemical Co., Ltd. from Hubei Yihua Group Limited Liability Company on December 10, 2020. Transfer price was paid on the same day and, Guizhou Wanshan Yinhe Chemical Co., Ltd. completed the change of business registration of its share transfer.