Luyang Energy-Saving Materials Co., Ltd. entered into an agreement to acquire Unifrax (Shanghai) Co., Ltd. from UNIFRAX UK HOLD CO LTD for CNY 34.74 million on August 22, 2023. The transaction still needs to obtain the approval of the shareholders? meeting.

As of September 6, 2023, the transaction is approved by shareholders of Luyang Energy-Saving Materials Co., Ltd.