Hailir Pesticides and Chemicals Group Co.,Ltd. (SHSE:603639) agreed to acquire Qingdao KYX Chemical Co., Ltd. from Weihai Hanfu Biochemical Pharmaceutical Co., Ltd. for approximately CNY 100 million on July 12, 2019. A 50% of the transactional price will be paid within 30 days since signing of the agreement. The extant 50% will be paid within 60 days since delivery of underlying equity. Qingdao KYX Chemical Co., Ltd. reported total assets of CNY 216.51 million and net assets of CNY 55.97 million as at December 31, 2018. Qingdao KYX Chemical Co., Ltd. reported operating income of CNY 315.74 million and net profit of CNY 18.1 million in 2018. The Board of Directors of Hailir Pesticides and Chemicals Group Co.,Ltd. approved the transaction on July 12, 2019. The transaction does not need approval from the shareholders of Hailir Pesticides and Chemicals Group Co.,Ltd.