Sea Snail New Materials: Intends to acquire 51% equity of North China Plastics

On September 29th, Hailuoshin Co., Ltd. announced that it plans to acquire 51% equity of Henan Huabei Industrial Plastics Co., Ltd. for a transaction price of 95.268 million yuan. After the completion of this acquisition, the company will hold 51% equity of Huabei Plastics, and Huabei Plastics will become a subsidiary of the company, included in the company's consolidated financial statements. Huabei Plastics mainly produces and operates a series of products such as high-molecular low-noise idler rollers and modified ultra-high molecular weight polyethylene pipe fittings. The company and Huabei Plastics both belong to the plastic products industry, with a high degree of industrial relevance, making it easy to achieve industrial integration and coordinated development.