Li Cheng, Li Chunyan and Li Wenhua made an offer to acquire 26% stake in Yongsheng Advanced Materials Company Limited (SEHK:3608) for approximately HKD180 million on June 25, 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.

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