HONGDA BLASTING: Plans to acquire 60% equity of Changzhilin for 1.02 billion yuan
HONGDA BLASTING announced that its subsidiary, HONGDA Defense, intends to acquire 60% of the equity of Dalian Changzhilin Technology Co., Ltd. for cash of 1.02 billion yuan. Upon completion of this transaction, HONGDA Defense will become the controlling shareholder of Changzhilin. This transaction does not constitute a related party transaction, nor does it constitute a major asset reorganization as defined by the "Administrative Measures for Major Asset Reorganization of Listed Companies."
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