Zhejiang Champean Nonwoven Technology Co., Ltd. agreed to acquire 34% stake in Hangzhou Jiafeng New Material Technology Co., Ltd. from Minfeng Special Paper Co.,Ltd. (SHSE:600235) on March 3, 2023. Hangzhou Jiafeng New Material Technology reported total assets of CNY 1.45 and net assets CNY 0.87 million on November 30, 2022. Minfeng Special Paper board of directors approved the transaction.