Yipu Li acquires majority stake in Songguang Civil Explosives

Yipu Li (SZSE:002096) announced on March 27, 2025, that it has entered into an agreement to acquire a 51% stake in Henan Songguang Civil Explosive Equipment Co., Ltd. from Henan Songguang Enterprise Management Consulting Center for 31,612,696.80 yuan. Post-acquisition, Songguang Civil Explosives will become a controlling subsidiary of Yipu Li. The acquisition, funded by Yipu Li's own capital and borrowed funds, is expected to bolster Yipu Li's presence in the Henan province market, enhancing its explosive materials production, sales, and blasting operations. Songguang Civil Explosives possesses a production capacity of 56,000 tons per year, which will increase to 60,000 tons as a result of a capacity upgrade following regulatory approval. The deal is anticipated to positively impact Yipu Li's future operating performance and profitability.