Snowsky Salt Industry has announced that it plans to acquire 100% equity of Hebei Kuntian New Energy Co., Ltd. through a combination of share issuance and cash payment, along with raising supporting funds. The transaction is expected to constitute a major asset restructuring and a related-party transaction, though it will not result in a restructuring listing. Currently, due diligence, audit, and valuation work are progressing smoothly. Upon completion, the company will convene another board meeting to deliberate and disclose the formal plan.
