Xinli International (00732) announced that on April 3, 2024, the buyer Xinli Optoelectronics Co., Ltd. (an indirect non-wholly-owned subsidiary of the company) and the seller Renshou Ji'an No.1 Investment Center (limited partnership) entered into the agreement on a further acquisition (share transfer agreement for the acquisition of approximately 12.55% of Xinli Renshou's shares). The buyer agreed to buy and the seller agreed to sell about 12.55% of Xinli Renshou's shares, at a total cost of RMB 1,097 billion.
As of the date of this announcement, Xinli Renshou held approximately 17.14%, 18.57% and 64.29% of the interests of the buyer, seller and Renshou Investment respectively. Following the completion of the further acquisition, the buyer will hold approximately 29.69% of Xinli Renshou's shares. Through the buyer, the company will indirectly hold approximately 29.69% of Xinli Renshou's shares, while Xinli Renshou will remain an associated company of the group. The seller and Renshou Investment will hold approximately 6.02% and 64.29% of Xinli Renshou's remaining shares, respectively.