Chengdu Galaxy Magnets updates on asset acquisition progress

Chengdu Galaxy Magnets (SZSE:300127) announced an update on its proposed acquisition of 100% equity in Sichuan Jingdu Longtai Technology Co., Ltd. through a combination of share issuance and cash payments. The company plans to acquire the equity from 14 named transaction parties and intends to raise supporting funds by issuing shares to no more than 35 specific investors.

The company's securities were suspended from trading on September 15, 2025, and resumed on September 29, 2025, following the disclosure of preliminary plans. As of the current announcement date, audit, valuation, and due diligence work for the transaction are in progress, with discussions on transaction details ongoing.

The company will convene another board meeting to review the transaction once the relevant work is completed. Chengdu Galaxy Magnets advises investors to monitor further announcements for updates on the transaction, which remains subject to board, shareholder, and regulatory approvals.