According to a notice from Zhitong Finance APP, Starglory Hldgs (08213) announced that its wholly-owned subsidiary Yongyaoxing Technology Co., Ltd. (Yongyaoxing Technology) recently signed an equity transfer agreement with Xinyuanchang Information Technology Co., Ltd. (the target company) shareholder (transferor). Under the equity transfer agreement, the transferor agreed to sell and Yongyaoxing Technology agreed to buy a total of 51% equity stake in Xinyuanchang Information Technology Co., Ltd. (the target company) for a total price of RMB 1.173 million.

The target company is engaged in the business of researching and developing new eco-friendly conductive materials, and in the application of new eco-friendly conductive materials in RFID as well as providing comprehensive solutions for smart enterprise management.

This equity transfer agreement is an important move by the company to explore and enhance its technology research and development capabilities in the new materials field, aiming to expand and master key technologies and information in the digital economy through collaborative efforts with the target company, further consolidate and enhance the group's competitive position in the new materials sector, and achieve digital development.