Astute Horizon Limited and Ever Thrive Global Limited made an offer to acquire 26% stake in Yongsheng Advanced Materials Company Limited (SEHK:3608) for approximately HKD180 million on June 8, 2023. Financial resources of Ever Thrive were obtained from a combination of its internal resources and External Financing. The Lender is principally engaged in construction business and is a third party independent of the Company and one of the Offeror Concert Parties. As of August 15, 2023, Yongsheng Advanced Materials Company Limited and the Offeror expect to dispatch the Composite Document on or before August 31, 2023. As on August 31, 2023, The Composite Document of Acceptance, has been dispatched to the Shareholders and Option holders. First Closing Date of the Offers will be on September 21, 2023.

The Offeror has appointed Halcyon Capital as its financial adviser in connection with the Share Offer and the Option Offer.

Astute Horizon Limited and Ever Thrive Global Limited completed the acquisition of 26% stake in Yongsheng Advanced Materials Company Limited (SEHK:3608) on October 5, 2023. As valid acceptances in respect of not less than 90% of the offer shares have been received, right to compulsorily acquire those offer shares not already owned shall be exercised.