Zhejiang Wansheng announced that the company or its affiliated funds intends to acquire not less than 51% and not more than 67% of the shares of Guangdong Entropy New Materials Co., Ltd. through cash. After the completion of the transaction, Zhejiang Wansheng will become the controlling shareholder of Entropy New Materials. The signing of the memorandum of understanding for the framework agreement is a non-binding arrangement. Specific acquisition matters still need to be further negotiated and there is uncertainty. This acquisition aims to enrich product categories, enhance market position and brand influence.