According to the Zhitong Finance APP, SHUANGYI TECH (300690.SZ) announced that the company plans to establish a wholly-owned subsidiary, SHUANGYI (Australia) Co., Ltd., to acquire 100% equity of Marky Industries Pty Ltd (referred to as "the target company," which is an Australian company) and specific assets (land and factory, referred to as "the target assets") held by Mr. Martin Nikolas and Ms. Krystyna Maria Nikolas (both Australian citizens and a married couple) for a total of AUD 18 million in self-raised funds and adjusted equity acquisition prices.

Marky is a well-known sales enterprise for composite materials products in Queensland, Australia, and is an important supplier for Volvo in Australia as well as a major supplier of fiberglass composite materials locally, showing certain synergies with the company in terms of customers and market areas. The target assets will enhance the company's overseas production base and improve its overseas market expansion capabilities. The acquisition of 100% equity of Marky and the target assets aligns with the company's international development strategy, facilitates the improvement of the company's overseas production base layout, and broadens its overseas sales channels. This will further enhance the company's core competitiveness and positively impact its development strategy. Additionally, based on Marky's years of stable operations locally, it will help reduce the company's integration risks