Zhejiang Longsheng: Intends to purchase 37.57% stake in Dystar for $697 million dollars.

Zhejiang Longsheng announcement, the company has signed a share purchase agreement with KIRI company and the receiver to purchase 37.57% of the issued shares of Detischda Global Holdings Limited held by KIRI company, with a delivery price of 697 million US dollars and any adjustment amount to be made on or after the delivery date. This transaction does not constitute a related party transaction or a major asset restructuring, the amount is within the authority of the board of directors and does not require approval by the shareholders' meeting, but relevant government filings, registrations, and other procedures still need to be completed. After the transaction is completed, Detischda will become a wholly-owned subsidiary of the company, in line with the strategic goal of the company becoming a world-class producer and service provider of specialty chemicals.