Global New Material International Holdings Limited (06616) announced the proposed acquisition of a 2.57% equity interest in Guangxi Chesir Pearl Material Co., Ltd. (“Chesir Pearl”). Under an agreement dated 28 November 2025, Global New Material International Holdings Limited (“the Company”) plans to issue 9,571,649 new shares at HK$8.01 per share, settling a consideration of RMB69,021,350. The transaction—entered into with Hongzun International, a connected person—constitutes a connected transaction under the Listing Rules.
According to the announcement, the acquired stake represents approximately 2.57% of Chesir Pearl’s equity as of the announcement date. Completion is subject to approvals under the Listing Rules, including the independent shareholders’ endorsement of the Specific Mandate to allot and issue the new shares. Following completion, the Company’s shareholding in Chesir Pearl is expected to rise to approximately 99.76%, while 0.24% of Chesir Pearl’s equity will remain with independent third parties.
The Company explained that the acquisition would align its broader strategy of consolidating its interests in Chesir Pearl, described as a core business unit. Pending the fulfillment or waiver (where applicable) of all conditions precedent by 31 January 2026 (or as otherwise agreed), the transaction may or may not proceed. As part of the deal’s requirements, an extraordinary general meeting (EGM) will be convened for the relevant approvals, and a circular containing further details on the specific mandate and independent financial advice is expected to be dispatched to shareholders on or before 31 December 2025.
The announcement also notes that the completion timetable is tied to obtaining all necessary consents and authorizations. Investors are cautioned that the acquisition remains conditional and urged to exercise care when trading the Company’s shares. The transaction does not involve any direct cash outlay by Global New Material International Holdings Limited, as the consideration is proposed to be settled entirely through the issuance of new shares. The EGM will additionally address the allotment and issue of these consideration shares, subject to the voting exclusion of parties associated with Hongzun Investment and Hongzun International. The Company indicates that no other shareholders aside from these related parties are required to abstain from voting.
