Zhejiang Youshan New Materials Co., Ltd. agreed to acquire a 49% stake in Yunnan Yunjuneng New Materials Co., Ltd. from Yunnan Yuntianhua Co., Ltd. (SHSE:600096) for CNY 87.4 million on January 13, 2023. Transaction has been approved by Yunnan Yuntianhua's board. Zhejiang Youshan New Materials won the bid for the acquisition.

Post acquisition, Yunnan Yuntianhua will still hold 51% stake in Yunnan Yunjuneng