Wangli Security & Surveillance Product Co., Ltd agreed to acquire 24.5% stake in Songzi Nengliang New Material Technology Co., Ltd. from Songzi Running Building Materials Co., Ltd. for CNY 27.4 million.

Wangli Security & Surveillance Product Co., Ltd (SHSE:605268) agreed to acquire 24.5% stake in Songzi Nengliang New Material Technology Co., Ltd. from Songzi Running Building Materials Co., Ltd. for CNY 27.4 million on February 7, 2024. Prior to the transaction, Wangli Security & Surveillance Product Co., Ltd (SHSE:605268) held 51%. Songzi Nengliang New Material Technology reported total assets of CNY 126,125,942.22 and net assets of CNY 110,109,346.91 as at September 30, 2023.

The transaction has been approved by board of Wangli Security & Surveillance Product.