Sinochem International advances asset acquisition from China BlueStar

Sinochem International (Holdings) Corporation has provided an update on its proposed acquisition of 100% equity in Nantong Xingchen Synthetic Materials Co., Ltd. from China BlueStar (Group) Co., Ltd. The transaction, involving the issuance of shares, is classified as a connected transaction but is not expected to constitute a major asset restructuring or a back-door listing.

The company's shares were initially suspended on July 16, 2025, and resumed trading on July 29, 2025. Following the initial announcements, the board of directors and supervisory board approved resolutions related to the share issuance and the preliminary plan for the asset purchase on July 27, 2025. Subsequent progress updates were released on August 29, September 29, and October 29, 2025.

As of November 28, 2025, due diligence, auditing, and appraisal work for the transaction are ongoing. The company plans to convene further board meetings to approve the final transaction plan once all related matters are completed. The transaction still requires approval from the company's board of directors, shareholders, and relevant regulatory authorities, introducing a degree of uncertainty regarding its final implementation.