Beijing New Building Materials Public Limited Company (000786.SZ) Subsidiary to Acquire 80% Stake in Tangshan Yuanda Hongyu and Suzhou Yuanda Hongyu

Stock News11-26

Beijing New Building Materials Public Limited Company (000786.SZ) announced that its wholly-owned subsidiary, Beixin Waterproof Co., Ltd. ("Beixin Waterproof"), has re-signed the Equity Transfer Agreement for Yuanda Hongyu (Tangshan) Waterproof Material Co., Ltd. and the Equity Transfer Agreement for Yuanda Hongyu (Suzhou) Building Materials Technology Co., Ltd. with related parties including Hebei Yuxiu, Beijing Yuanda Hongyu, Hebei Yuanchang, and Sun Zhining.

Under the agreements, Beixin Waterproof will acquire an 80% stake in Tangshan Yuanda Hongyu for CNY 336 million and an 80% stake in Suzhou Yuanda Hongyu for CNY 82.576 million.

The company stated that the transactions align with its strategic development and business expansion needs. The acquisitions will enhance Beixin Waterproof's competitiveness and influence in the waterproof materials markets of North and East China, further strengthening its nationwide presence.

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