Technology Dec 24, 2020 05:54 PM (GMT+8) · EqualOcean
Sinochem International announced that the company plans to sign the "equity transfer agreement" with Sinochem Hebei Co., Ltd. to acquire 100% equity of Sinochem Fuding, 60% equity of Sinochem Xinbao and 70% equity of Sinochem FUHENG held by Sinochem Hebei Co., Ltd. in cash. The transaction price of the underlying assets does not exceed 450 million yuan. This transaction will enrich the company's product portfolio and bring new profit growth point for the company in the field of new functional materials. Sinochem is the controlling shareholder of the company and Sinochem Hebei is a wholly-owned subsidiary of Sinochem. The above transactions constitute related party transactions.