HMT (Xiamen) continues asset acquisition suspension

HMT (Xiamen) New Technical Materials (SSE:603306) has announced an update on the progress of its planned acquisition of Shenzhen Fuchuang Youyue Technology Co., Ltd. The company intends to acquire the remaining 57.8398% stake in Fuchuang Youyue through a combination of share issuance and cash payment. This would bring HMT's total ownership of Fuchuang Youyue to 100%. Trading of the company's stock and convertible bonds, initially suspended on May 21, 2025, will remain halted as negotiations continue. The company noted that the deal remains in the planning stage, and the deal is subject to regulatory approvals. HMT advises investors to exercise caution due to the uncertainties involved.