Hai Shun New Materials: Wholly-owned subsidiary plans to acquire 100% equity of Zhengyi Packaging for 94.35 million yuan.

Haishun New Materials announced that its wholly-owned subsidiary, Suzhou Haishun, plans to acquire 100% equity of Guangdong Zhengyi Packaging Co., Ltd. for 94.35 million yuan. This transaction does not constitute a related party transaction or a major asset reorganization. After the transaction is completed, Zhengyi Packaging will become a wholly-owned subsidiary of Haishun New Materials. The evaluation result shows that the valuation of 100% equity of Zhengyi Packaging is 90.7941 million yuan, and the negotiated transaction price is 94.35 million yuan. Zhengyi Packaging is mainly engaged in the research and development, production, and sales of packaging films. Its main customers are domestic printing and bag manufacturers, food producers, etc., and its products are widely used in the packaging of food, beverages, pharmaceuticals, cosmetics, and other products.