On November 5th, HNYC New Materials issued a notice, saying that it plans to acquire 100% equity of China Pingmei SM Group Kaifeng Carbon Co., Ltd. (hereinafter referred to as "KF carbon") by issuing shares to purchase Carbon Electrode industry.
According to HNYC's "Plan for Intention of Issuing Shares to Purchase Assets and Related Party Transactions" (hereinafter referred to as the "Plan") released on November 5, HNYC New Materials intends to purchase 100% equity of KF Carbon by issuing shares. The value is about 7 billion yuan, the issue price is 3.79 yuan, and the transaction is expected to issue 184,696,57 shares. After the transaction is completed, KF Carbon will become a wholly-owned subsidiary of HNYC New Materials.