Guangzhou Sanfu New Materials Technology Co.,Ltd (SHSE:688359) agreed to acquire Guangzhou Etsing Plating Research Institute Co., Ltd from Li Xiaohai, Chen Hancai and Xie Suling and others for CNY 72 million on August 9, 2022. Guangzhou Sanfu New Materials Technology Co.,Ltd will use own funds for the acquisition, The transaction is subject to approval of offer by Guangzhou Sanfu New Materials Technology Co.,Ltd. As of August 9, 2022 Guangzhou Sanfu New Materials Technology Co.,Ltd board approved the deal. For the period ended on March 31, 2022 Guangzhou Etsing Plating Research Institute Co., Ltd reported total assets of CNY 6.573236 million and Net profit of CNY 3.73093495 million.