According to the Smart Finance APP, Infinity dev (00640) announced that on November 19, 2024 (after trading hours), the buyer PT. Zhongbu Resins Indonesia (an indirect wholly-owned subsidiary of the company) and the seller Dazhong Machinery Co., Ltd. have signed an agreement for the acquisition of assets at a price of 4.25 million USD, aimed at establishing its manufacturing business for the new manufacturing plant set up by the group in Indonesia.

The announcement states that the group is currently conducting construction for the new manufacturing plant on the land, aiming to better serve its customers through enhanced cost competitiveness and freight time advantages, thus further consolidating its core business. In summary, the acquired assets are intended for establishing its manufacturing business for the new manufacturing plant in Indonesia.