Advanced Fiber Resources updates on major asset restructuring

Zhuhai Advanced Fiber Resources Co., Ltd. (Advanced Fiber Resources) issued an update on its plan to acquire 100% equity in Suzhou Anjiexun Optoelectronic Technology Co., Ltd. The acquisition involves issuing shares, convertible corporate bonds, and making cash payments to six transaction parties, including Zhang Guanming and Suzhou Xinnuo Investment Partnership.

Additionally, the company intends to raise supporting funds by issuing shares to no more than 35 specific investors. This transaction is categorized as a connected transaction and constitutes a major asset restructuring, though it will not result in a backdoor listing. The "Restructuring Preliminary Plan" was initially disclosed on August 12, 2025.

As of the latest announcement, audit, valuation, and due diligence work for the transaction are progressing as planned, and the transaction scheme is under further negotiation. The company will reconvene its board of directors to review the relevant matters once these works are completed. Advanced Fiber Resources reminds investors that the transaction is subject to further board and shareholder approvals, as well as regulatory approvals, introducing an element of uncertainty.