NBTM New Materials Group advances acquisition of Shanghai Fuchi High-tech equity

NBTM New Materials Group Co., Ltd. (NBTM) announced further progress in its acquisition of 34.75% equity in Shanghai Fuchi High-tech Co., Ltd., alongside raising supporting funds. The Shanghai Stock Exchange formally accepted NBTM's application for the issuance of shares to acquire assets and raise supporting funds for its main board listing on September 1, 2025.

This application acceptance follows a series of approvals, including the company's eighth board of directors' sixteenth meeting and the eighth board of supervisors' fifteenth meeting on June 6, 2025. These meetings approved the draft report on issuing shares and paying cash to acquire assets and raising supporting funds for related party transactions. The related audit and valuation work for the transaction has been completed, and the transaction price has been determined. These matters were further approved by the 2025 first extraordinary general meeting held on June 23, 2025.

The transaction, which also involves a related party transaction, requires several further approvals, including review by the Shanghai Stock Exchange and registration approval from the China Securities Regulatory Commission. The company emphasized that the timing for obtaining these approvals and final registration remains uncertain.