Voneseals Technology (Shanghai) Inc. (SZSE:301161) agreed to acquire 51% stake in Shanghai Garnor Seals Technology Co., Ltd from a group of shareholders for approximately CNY 210 million on January 15, 2024. As of August 31, 2023, Shanghai Garnor Seals Technology Co., Ltd generated total assets of CNY 429.1 million and net assets of CNY 247.5 million. CSC Financial Co., Ltd. acted as financial advisor, Ernst & Young Hua Ming LLP acted as accountant and Fangda Partners acted as legal advisor to Voneseals Technology (Shanghai) Inc.

Voneseals Technology (Shanghai) Inc. (SZSE:301161) completed the acquisition of 51% stake in Shanghai Garnor Seals Technology Co., Ltd from a group of shareholders on March 19, 2024.