Zhejiang Zhongxin Fluoride Materials Co.,Ltd (SZSE:002915) agreed to acquire a 30% stake in Jiangxi Artsen Chemical Co., Ltd from Zhejiang Artsen Chemical Co., Ltd. for approximately CNY 150 million on June 27, 2022. Zhejiang Zhongxin Fluoride Materials Co.,Ltd board approved the transaction. As of March 31, 2022, Jiangxi Artsen Chemical Co., Ltd reported total assets of CNY 207.42 million, total common equity of CNY 186.61 million, EBIT of CNY 44.46 million and net income of CNY -9.54 million.

LUO Xiaoyang, MENG Lingqi and DU Liping of Grandall Lawyers (Beijing) Office acted as legal advisors to Zhejiang Zhongxin Fluoride Materials.