Conch New Material: Plans to acquire 51% equity in North China Plastics

On September 29th, Conch New Material announced that the company plans to acquire 51% equity of Henan North China Industrial Plastic Co., Ltd. at a transaction price of 95.268 million yuan. After the completion of this acquisition, the company will hold 51% equity of North China Plastic, which will become a subsidiary controlled by the company and included in the company's consolidated financial statements. North China Plastic mainly produces and operates a series of products such as polymer low-noise rollers and modified ultra-high molecular weight polyethylene pipes and fittings. The company and North China Plastic are both in the plastic products industry, with a high degree of industrial relevance, making it easy to achieve industrial integration and collaborative development