International composite materials: intends to acquire 40% equity of Hongfa New Materials for 712 million yuan.

International Composite Materials Announcement, the company and the minority shareholders of Hongfa New Materials signed the "Equity Transfer Agreement of Hongfa Zongheng New Materials Technology Co., Ltd. in Changzhou City". The company intends to acquire 40% of the equity of Hongfa New Materials held by the minority shareholders Tang Kunlun and Tang Lingzhi for a total of 712 million RMB. After the completion of this transaction, Hongfa New Materials will become a wholly-owned subsidiary of the company.