Oriental Yuhong: Plans to acquire 100% equity of Chilean building materials retailer for $123 million.

Oriental Yuhong announced that its wholly-owned subsidiaries, Oriental Yuhong Overseas Development Company and Oriental Yuhong International Trade Company, plan to invest a total of approximately $123 million USD in cash to acquire 100% equity of Chilean company Construmart S.A. After the transaction is completed, Oriental Yuhong Overseas Development Company will hold 99% of the shares of Construmart, while Oriental Yuhong International Trade Company will hold 1%. The transaction is subject to approval from the board of directors and must be filed for approval by relevant departments in China. The transaction is not considered a related party transaction, nor does it constitute a major asset restructuring.