On December 3, Beixin Paint, a wholly-owned subsidiary of Beixin Building Materials, intends to reorganize Zhejiang Bridge Paint Co., Ltd. through public delisting and agreement acquisition.
Beixin Paint intends to delist and acquire 10.7390% equity of Zhejiang Bridge held by Hangzhou Industrial Investment Group Co., Ltd. at a base price of 43319204.7, and also intends to acquire part of the equity of Zhejiang Bridge held by other shareholders by agreement, which will total 51.4169% equity of Zhejiang Bridge after the transfer. The purpose of this transaction is to realize the market layout of industrial coatings in East China, and there are market and integration risks. After the completion of the transaction, the target company will be included in the scope of consolidated statements, which will not have a significant adverse impact on the company's financial position and operating results.
