CH FRONTIER TEC to Acquire 49% Stake in Ningbo Qihe New Material Technology for 19.6 Million Yuan

Stock News04-23

CH FRONTIER TEC has entered into a sale and purchase agreement for the acquisition of a 49% equity interest in Ningbo Qihe New Material Technology Co., Ltd. The total consideration for the transaction is 19.6 million yuan. The buyer is a wholly-owned subsidiary of the company, while the seller is Shenzhen Bochi Electronics Co., Ltd., which currently holds full ownership of the target company. Following the completion of the acquisition, CH FRONTIER TEC will hold a 49% stake in the target company, which will not be classified as a subsidiary. Consequently, the financial results of the target company will not be consolidated into the group's financial statements. This move represents a strategic initiative by the company to diversify its business model beyond its core operations in event management. By entering the functional materials market, the group aims to leverage its existing commercial capabilities while developing new competencies. The company intends to maintain event operations as its foundational business while actively expanding into the functional materials trading segment. This dual-focus strategy is designed to reduce reliance on any single revenue source and create more stable, sustainable income streams throughout economic cycles. The acquisition aligns with the company's objective of delivering improved returns and greater value to shareholders.

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