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On November 9, Hanbo High-Tech announced plans to acquire a 10% equity interest in Hefei Xindongjin New Material Technology Co., Ltd. from Hanbo Holdings for RMB 36.2282 million, a 6.8182% stake in Xindongjin from Beijing Xinjin for RMB 33 million, and a 10.9091% interest in Xindongjin from Hainan Xinjin for RMB 52.8 million—a total consideration of RMB 122 million. Upon completion of the transaction, Hanbo High-Tech's shareholding in Xindongjin will increase from 45.4545% to 73.1818%. Xindongjin will then be consolidated into Hanbo High-Tech's financial statements and become a controlled subsidiary. The portion of the deal involving the acquisition of equity held by Hanbo Holdings constitutes a related-party transaction, and the transaction remains subject to deliberation and approval by the company's shareholders' meeting.
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