Wankai New Materials Co., Ltd. (SZSE:301216) signed an equity transfer agreement to acquire Sichuan Zhengdakai New Materials Co., Ltd. from Zhejiang Zhengkai Investment Ltd. for approximately CNY 350 million on February 15, 2023. As per the terms of agreement, Wankai New Materials shall pay the price of this equity transfer by bank transfer within ten working days from the date of completion of the industrial and commercial change registration of this equity transfer. Sichuan Zhengdakai New Materials has reported total assets of CNY 428.6083 million and net assets of CNY 200.3557 million on January 31, 2023.

The board of Wankai New Materials has approved the deal on February 15, 2023.