Keyuan Holdings Group Co., Ltd. agreed to acquire 10.9% stake in Shanghai NAR Industrial Co., Ltd (SZSE:002825) from You Aiguo for CNY 260 million on December 22, 2023. The offer price is CNY 6.97 per share for 37.3 million shares of Shanghai NAR Industrial Co., Ltd. Gross proceeds shall not exceed CNY 260 million, net proceeds after issuance fees shall be used in replenishment of working capital. This has been approved by the company?s 5th supervisory board during its 8th meeting held on December 22, 2023.

This has been approved by the Shanghai NAR Industrial Co., Ltd 5th board of directors. This is subject to approval by shareholders? meeting of the Shanghai NAR Industrial Co., Ltd. This is subject to approval by Shenzhen Stock Exchange and China Securities Regulatory Commission.