Hunan Sokan New Materials Co., Ltd. (SHSE:688157) agreed to acquire 70% stake in Guangdong Ruitu Fine Chemical Co., Ltd. from Gongqingcheng Zhisheng Investment Partnership (Limited Partnership) and Yang Xianghong on March 8, 2022. In the related transaction Hunan Sokan New Materials Co., Ltd. (SHSE:688157) issued shares to support the acquisition.