Sailun Group (601058.SH) plans to merge with Sailun New Materials.

Sailun Group (601058.SH) announced that on September 23, 2024, the company held the 18th meeting of the sixth board of directors and approved the proposal regarding the merger of its wholly-owned subsidiaries. The company approved the absorption and merger of Qingdao Sailun Group Co., Ltd. (referred to as "Sailun Dongjiakou") by Qingdao Sailun New Materials Co., Ltd. (referred to as "Sailun New Materials"). After the merger, all business, assets, liabilities, and all other rights and obligations of Sailun New Materials will be assumed by Sailun Dongjiakou. The project implementation entity of the "Dongjiakou New Materials Project" (with an annual production capacity of 500,000 tons, first phase 200,000 tons) will be changed from Sailun New Materials to Sailun Dongjiakou, and the construction content and investment amount of the project remain unchanged.