Galaxy Magnets halts trading for major acquisition of technology firm

Chengdu Galaxy Magnets Co., Ltd. (SZSE:300127) announced a trading suspension effective September 15, 2025. This is to facilitate a planned acquisition involving the issuance of shares, cash payment for assets, and the raising of supporting funds. The company anticipates disclosing the full transaction plan by September 29, 2025, within 10 trading days.

The target company for this acquisition is Sichuan Jingdu Longtai Technology Co., Ltd., a private limited company established on December 14, 2011, with a registered capital of 9,464.725751 million yuan. Jingdu Longtai specializes in the R&D, production, sales, and technical services of ferrite, soft magnets, rare earth permanent magnets, motor components, electronic components, and magnetic material production equipment.

Galaxy Magnets intends to acquire 100% of Jingdu Longtai's equity through a combination of share issuance and cash payments, alongside raising supporting funds. The transaction will not alter Galaxy Magnets' actual control. While intent agreements have been signed, the final transaction scope and terms are pending the outcome of a valuation report and subsequent negotiations.