Great Shengda plans to invest in Thailand's Far East and will hold a 30% stake in it

According to the Zhitong Finance APP, Great Shengda (603687.SH) announced that the company intends to acquire a 10% equity stake in Thailand Far East International Environmental Protection Co., Ltd. (hereinafter referred to as "Thailand Far East") held by Xiamen Jiteli Trading Co., Ltd. (hereinafter referred to as "Jiteli Trading") and a 20% equity stake in Thailand Far East held by Far East Zhongqian (Xiamen) Technology Group Co., Ltd. (hereinafter referred to as "Far East Zhongqian"), for a total acquisition of a 30% equity stake in Thailand Far East, with a transaction price of 204 million Thai Baht, determined based on the book value of the registered capital of Thailand Far East. At the same time, after the completion of this equity transfer, the shareholders of Thailand Far East intend to increase their capital by 670 million Thai Baht in proportion to their equity stakes, of which the company intends to subscribe for 201 million Thai Baht of registered capital at 1 Thai Baht per registered capital. After the capital increase is completed, the company will still hold a 30% equity stake in Thailand Far East. The total amount of the equity transfer payment and the capital increase subscription amounts to 405 million Thai Baht (approximately 90 million RMB, specifically converted to RMB based on the exchange rate of Thai Baht to RMB at the time according to the Bank of China’s quoted price). After the completion of this asset purchase and external investment, the company will hold a 30% equity stake in Thailand Far East. This transaction is aimed at reducing the uncertainty brought by the current U.S. "double anti-investigation" on the company's pulp molding industry, and is based on the principle of complementary advantages and collaborative development between the two parties, to jointly participate in the investment in overseas production bases, enhance the capability and service level of overseas business expansion, and better meet the diverse needs of pulp molding customers