ZYNP Corporation (SZSE:002448) agreed to acquire 40.91% stake in Zhumadian Hengjiu Machinery Manufacturing Co., Ltd. from Zhumadian Hengjiu Enterprise Management Consulting Center (Limited Partnership), Hainan Youhang Trading Co., Ltd., Zhou Ligang and Henan Yuelang Enterprise Management Consulting Center (Limited Partnership) for CNY 90 million on September 26, 2023. The consideration consists of CNY 90 million in cash for an equity transfer price of CNY 4 per share. As part of the consideration, CNY 90 million was paid towards common equity.

Zhumadian Hengjiu reported total assets of CNY 436.42 million and net assets of CNY 121.94 million as on July 31, 2023. The transaction was approved by the Board of Directors of ZYNP Corporation.