Gelonghui, May 10, 丨 Ningbo Huaxiang (002048.SZ) announced that in order to improve corporate governance, fulfill promises, reduce related transactions, enhance the profitability of listed companies, and lay the foundation for subsequent implementation of corporate strategic plans, Ningbo Huaxiang plans to acquire 47.5% of Ningbo Silam's shares, 99.5% of Japan's Silam shares, 100% of Korea's shares, and 10% of Silam Singapore's shares (hereinafter referred to as the “subject of the transaction”). India's Shiram is not within the scope of this transaction due to the previous failure of Singapore's Fengmei's delivery and has already given up.

On May 10, 2024, the 7th meeting of the 8th board of directors of the company deliberated and passed the “Proposal on the Cash Acquisition of 47.5% of Ningbo Silam's Shares and Related Shares in Overseas Shiram”, agreeing that the listed company would invest RMB 1,472.5 million to acquire the underlying assets in cash.