Xiongsu Technology (300599.SZ) plans to acquire no more than 80% equity of Xinyuan New Materials.

Zhito Finance APP News: Xiongsu Technology (300599.SZ) has announced that the company plans to acquire no more than 80% equity of Shenzhen Xinyuan New Materials Co., Ltd. (hereinafter referred to as "Xinyuan New Materials" or the "Target Company" or the "Subject Company") in cash. Upon completion of the acquisition, Xinyuan New Materials will become a controlled subsidiary of the company. The overall valuation of 100% equity of the Target Company is tentatively set at no more than RMB 800 million. The final valuation and pricing, as well as the specific transaction plan, shall be subject to the audit and evaluation reports and the formally signed acquisition agreement.