Shenhuo Group intends to acquire 14.6869% equity of Shenhuo New Materials for 298 million yuan.

Shenhuo Group announced that the company has decided to acquire 14.6869% of the equity of Shenhuo New Materials held by Shangqiu Xinfeng as the intended acquirer through public delisting with its own funds. The listing price is 298 million yuan. If the transaction is completed, Shenhuo New Materials will become a wholly-owned subsidiary of the company. The purpose of this transaction is to further consolidate the company's market position in the aluminum foil industry and enhance the company's core competitiveness. The funds for the transaction will come from the company's own funds and will not affect the normal operation of existing business.