Zhejiang Juhua Co., Ltd. (SHSE:600160) agreed to acquire 30.15% stake in Zibo Feiyuan Chemical Co., Ltd. from existing shareholders for approximately CNY 580 million on December 5, 2023. Zibo Feiyuan Chemical reported total assets of CNY 2.7 billion and net assets of CNY 653.8 million as on May 31, 2023. The transaction was approved by the Board of Directors of Zhejiang Juhua.

Completion is subject to approval by shareholders of Zhejiang Juhua.