XINGYE TECH.: Subsidiary acquires the furniture leather project department of Fujian Guanxing Leather Co., Ltd
XINGYE TECH announced that its subsidiary Fujian Ruisen Leather Co., Ltd. has decided to acquire the furniture leather project department of Fujian Guanxing Leather Co., Ltd. The transaction price is RMB 76.1086 million, accounting for 3.16% of the company's most recent audited consolidated financial statements attributable to shareholders of the listed company. This acquisition aims to expand the product application field, develop the furniture leather market, enhance furniture leather manufacturing processes, improve the research and development system, and increase product quality and the supply capacity of customized products
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