Zhitong Finance App News, Femiao Technology (688350.SH) issued an announcement. In order to seize industry development opportunities, consolidate its core competitive advantage, advance the deepening implementation of the “two-wheel drive” medium- and long-term strategy, and improve the business layout of water-based chemicals and industrial water treatment, the company plans to acquire 100% of Longlinvoge's shares and 5.2428% of the shares of the target company Jiaxing Watertech Environmental Technology Co., Ltd. (“Watertech” for short). The total shares of the target company were obtained through direct and indirect shareholding methods. The total consideration for this transaction was $696 million. The funding source was the company's own capital and/or self-financing (including but not limited to merger and acquisition loans or other financing). After the acquisition is completed, Watertech will be included in the scope of the company's consolidated statements and managed in the form of a holding subsidiary.

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