Nanjing Jinling Plastic & Petrochemical Co.,Ltd. agreed to acquire Nanjing Jinpu Commercial Factoring Co., Ltd. from Gpro Titanium Industry Co., Ltd. (SZSE:000545) for approximately CNY 420 million on November 14, 2022. Gpro Titanium Industry Co., Ltdwill exchange its 100% stake in Nanjing Jinpu Commercial Factoring Co., Ltd. with 100% stake in Nanjing Jinpu Huandong New Material Co., Ltd held by Nanjing Jinling Plastic & Petrochemical Co., Ltd. The 100% stake in Huandong New Material is priced at CNY 415,999,800. The 100% stake in Jinpu Factoring is CNY 416,273,000.

The difference between the value of the two is CNY 273,200. This will be paid by Jinling Plastic in cash before December 31, 2022. The 6th session of the company's 8th directorate approved the asset exchange.