Jiangsu Yida Chemical's Subsidiary to Acquire 85% Stake in Wanqi Biotechnology (Taizhou)

Stock News11-28

Jiangsu Yida Chemical Co., Ltd. (300721.SZ) announced that its subsidiary, Taixing Yida Chemical Co., Ltd., plans to acquire an 85% stake in Wanqi Biotechnology (Taizhou) Co., Ltd. from Jiangsu Wanqi Biotechnology Co., Ltd. for RMB 24.565 million using its own funds.

The acquisition aligns with the company's high-quality development strategy, aiming to enhance product specialization and refinement. By leveraging Wanqi Biotechnology's extensive production experience and sales network, Jiangsu Yida Chemical seeks to strengthen cooperation in expanding epoxy (propylene/ethylene) derivatives in the fine chemical sector. This move will further optimize production capacity, diversify product offerings, and improve manufacturing capabilities to better meet downstream customer demand.

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