Hainan Rubber completes asset purchase, appoints new executive

China Hainan Rubber Industry Group (SSE:601118) has completed a major asset purchase involving HALCYON AGRI CORPORATION LIMITED, making it a subsidiary. The acquisition, executed through Rubber Investment, saw the transfer of HALCYON shares from SINOCHEM in a deal valued at USD 180,874,354.19, followed by a mandatory offer to remaining shareholders. CICC, acting as the financial advisor, confirmed the transaction's compliance with relevant laws. In tandem with this significant acquisition, the company's board has appointed Li Zhiyu as Deputy General Manager, effective May 9, 2025, while also approving revisions to the company's Equity Investment Management System to refine investment strategies. These moves signal a dual focus on expanding its global footprint and strengthening its internal governance and leadership structure.