Zhejiang Longsheng extends deadline for DyStar acquisition

Zhejiang Longsheng Group announced an extension to the deadline for its acquisition of a 37.57% stake in DyStar Global Holdings (Singapore) Pte. Ltd. The new "final deadline" is now December 1, 2025, extended from earlier dates in October and November 2025. This extension follows an agreement reached via email with the receivers on November 4, 2025. As part of this agreement, Zhejiang Longsheng is required to transfer an additional $5,112,156 into the escrow account within 10 working days of November 3, 2025, with a supplementary agreement to be formally signed.

The acquisition, initially approved on May 29, 2025, involves a purchase consideration of $69,654,780 plus any post-closing adjustments. Zhejiang Longsheng has already deposited $3,482,739 as a guarantee into an escrow account and has submitted necessary filing documents to the National Development and Reform Commission and the Ministry of Commerce. These two filing procedures are currently pending completion.

The company emphasizes that the completion of these government filings remains uncertain, and it will continue to provide updates to investors. Zhejiang Longsheng states that it is actively working to finalize the transaction and complete the necessary filing procedures as soon as possible.