Gelonghui, Feb. 28 | Huayang Lianzhong (603825.SH) announced that the company purchased 12.637% of the shares of Suzhou Shengyi Technology Co., Ltd. (“Suzhou Shengyi”) held by Weihua Electronics Co., Ltd. (“Weihua Electronics”) in cash and paid 444.2091,000 yuan in consideration. The board of directors authorized management to sign relevant agreements with Weihua Electronics and handle matters relating to this acquisition. After the acquisition was completed, the company held 100% of Suzhou Shengyi's shares. The transaction is an acquisition of minority shareholders' shares, so there will be no new goodwill.

After 20 years of business development, Suzhou Shengyi has formed a relatively stable profit and cash flow. Its main business is R&D, manufacturing and sales of copper-clad plates and adhesive sheets.