Kangxin New Materials: Intends to use 392 million yuan in cash to acquire a 51% stake in Yubang Semiconductor.

Kangxin New Materials announces that it intends to acquire 51% of the equity of Yubang Semiconductor by increasing its capital through the acquisition of equity. After the completion of this transaction, Yubang Semiconductor will become a subsidiary of the company and be included in the company's consolidated financial statements.