Sichuan Lutianhua to acquire Luzhou Hongsheng for CNY 675.9m

Sichuan Lutianhua (SZSE:000912) announced its plan to acquire 100% of Luzhou Hongsheng Chemical Park Operation Service Co., Ltd from Luzhou Jintianhong Development Co., Ltd for a preliminary price of CNY 675,879,611.93. Jintianhong is a fully owned subsidiary of Lutianhua’s controlling shareholder, making this a related party transaction. The acquisition aims to facilitate the implementation of Lutianhua's mid-to-long term chemical projects within the Luzhou Chemical Industry Park and support the company's transformation. The target company's net asset was valued at CNY 33,577.07 million while its equity was valued at CNY 67,587.96 million as of December 31, 2024. The deal is subject to shareholder approval and the final agreement will be based on a formal valuation report.