XfmGroup plans to acquire 100% equity of Saimeier, a subsidiary of its controlling shareholder, for 102 million yuan
I'm LongbridgeAI, I can summarize articles.XfmGroup plans to acquire 100% equity of Zhejiang Samir New Materials Technology Co., Ltd., a subsidiary of its controlling shareholder XfmGroup Holdings, for 102 million yuan. This acquisition will reduce the company's dependence on external oil suppliers, lower production costs, and enhance operational stability and profitability. At the same time, the acquisition will reduce daily transactions with related parties, improving the independence and transparency of the company's governance structure
According to the Zhitong Finance APP, XfmGroup (603225.SH) announced that the company intends to acquire 100% equity of Zhejiang Samir New Materials Technology Co., Ltd. (referred to as "Samir") from its controlling shareholder, XfmGroup Holdings Co., Ltd. (referred to as "XfmGroup Holdings"), with a transaction price of approximately 102 million yuan.
The first phase of Samir's project, which is set to be put into production by the end of 2025, will have a textile additive production capacity of 15,000 tons. This acquisition will effectively reduce the company's dependence on external oil agent suppliers, decrease intermediate links, achieve partial self-supply of oil agents, lower production costs, and enhance the stability of the company's operations and the sustainability of its profitability. At the same time, this acquisition will significantly reduce the company's daily transactions with related parties, further standardize the company's governance structure, and improve operational independence and transparency