CHINA ORAL IND (08406) Plans HK$21.6 Million Acquisition of Shishi Newsuo Chenglong Knitting

Stock News03-16

CHINA ORAL IND (08406) announced that on March 16, 2026, its indirect wholly-owned subsidiary, Shishi Huixiangmei Management Consulting Co., Ltd., intends to acquire the entire registered share capital of Shishi Newsuo Chenglong Knitting Co., Ltd. from Wu Moutan for a total consideration of HK$21.6 million. The payment will be made by issuing approximately 273.4 million consideration shares at a price of HK$0.079 per share. The target company is a textile manufacturing enterprise focused on the research and development, production, and sales of knitted fabrics. It holds multiple patents related to knitted fabric processing. Its main product is knitted fabric, which is widely used in apparel, home textiles, and other fields, with its primary customers being in garment manufacturing and textile trading. The announcement stated that the target company's business represents an upstream operation for the group. The acquisition will enhance the stability of the supply chain and improve cost control for the group's business operations, helping to achieve synergies and support the group's long-term development.

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