Sunfa Hengneng: Intends to acquire a 49% stake in Sunfa Deneng for 113 million yuan and acquire 100% stake in Puxing Jingxing for 147 million yuan.

Sina Finance reported on March 30th that Sunfa Hengneng announced that the company plans to acquire 49% equity of Sunfa Dene with its own funds of 113 million yuan, including acquiring 19% equity from Puxing Neng and 30% equity from Puxing Lantian; and to acquire 100% equity of Puxing Jingxing with 147 million yuan. After the transaction is completed, Sunfa Dene and Puxing Jingxing will become wholly-owned subsidiaries of the company. This transaction constitutes a related party transaction, but does not constitute a major asset restructuring and still needs to be submitted for approval by the company's shareholders' meeting.