Zhejiang Xinan Chemical Industrial Group Co.,Ltd (SHSE:600596) agreed to acquire 27% stake in Hubei Huang'enye New Material Technology Co., Ltd. from Peng Gehua for CNY 35.1 million on October 10, 2023. In related transaction Hubei Huang'enye New Material Technology will carry out a capital increase and the total stake owned by Zhejiang Xinan Chemical Industrial Group's will increase to 51%. Transaction has already received board of director's approval.