Zhitong Finance App News, Xiongsu Technology (300599.SZ) announced that the company plans to acquire no more than 80% of the shares of Shenzhen Xinyuan New Materials Co., Ltd. (hereinafter referred to as “Xinyuan New Materials” or “Target Company” or “Target Company”) in cash. After the acquisition is completed, Xinyuan New Materials will become the company's holding subsidiary. The overall valuation of 100% of the target company's shares is tentatively not more than RMB 800 million. The final valuation, pricing, and specific transaction plan are subject to the audit, evaluation report, and duly signed acquisition agreement.

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