Sinochem International advances Nantong Xingchen acquisition through share issuance

Sinochem International (Holdings) Co., Ltd. announced the ongoing advancement of its plan to acquire 100% equity in Nantong Xingchen Synthetic Materials Co., Ltd. from China BlueStar (Group) Co., Ltd. through a share issuance. This transaction, which is expected to constitute a related-party transaction, will make Nantong Xingchen a wholly-owned subsidiary of Sinochem International.

The company's shares were suspended from trading on July 16, 2025, and resumed on July 29, 2025. On July 27, 2025, the Tenth Board of Directors held its seventh meeting, and the Tenth Board of Supervisors held its fourth meeting, where they reviewed and approved resolutions related to the share issuance for asset acquisition and related-party transactions.

As of the announcement date of September 29, 2025, due diligence, auditing, and valuation work for the transaction are actively progressing. The company will convene further board meetings to approve and disclose the formal transaction plan once these processes are complete. The transaction is still subject to approval by the company's board of directors, shareholders, and relevant regulatory authorities.