Huafeng Chemical progresses on asset purchase plan

Zhejiang Huafeng Spandex (SZSE:002064) announced continued progress on its plan to acquire assets through the issuance of shares and cash payments. The company is proceeding with due diligence and related work, having initially suspended trading on October 29, 2024, and resumed on November 4, 2024. The planned transactions involve purchasing 100% equity in Huafeng Synthetic Resin and Huafeng Thermoplastics from Huafeng Group via share issuance and cash. The company notes that the transaction is still subject to board and shareholder approval, regulatory approvals, and registration, emphasizing the uncertainty of the timeline.