002271SZSE

Announcement on the Progress and Completion of the Acquisition of 60% Equity in Brazil's Novakem Indústria Química Ltda.

✨ AI Summary

This announcement details the acquisition of 60% equity in Novakem Indústria Química Ltda. by OYH Brazil Ltda., a wholly-owned subsidiary of Beijing Oriental Yuhong Waterproof Technology Co., Ltd. The total investment is approximately 108 million Brazilian Reais (about 144 million RMB). The transaction has been approved by the board and all conditions for completion have been met, with the equity transfer finalized on February 12, 2026.

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Full Translation

AI Translation· azure_openai

I. Overview of the Transaction

To actively promote the company's international strategy and continuously expand overseas markets, OYH Brazil Ltda. (hereinafter referred to as "OYH Brazil" or "Buyer"), a wholly-owned subsidiary of the company, signed a Share Purchase Agreement and Other Covenants (hereinafter referred to as "Share Purchase Agreement") on November 19, 2025 (Brazil time November 18, 2025) with individuals OTTOMASCARENHAS SILVA (hereinafter referred to as "Otto"), HAMBER MARQUES FONSECA (hereinafter referred to as "Hamber"), LUIZ SANTOS LEAL (hereinafter referred to as "Luiz"), WALTER MAURICIO FERREIRA DE FREITAS (hereinafter referred to as "Walter"), and HUMBERTO RIBEIRO BENINI (hereinafter referred to as "Humberto", collectively referred to as "Counterparties" or "Sellers"). The agreement stipulates that OYH Brazil intends to invest approximately 108 million Brazilian Reais (approximately 144 million RMB based on the exchange rate published by the Central Bank of Brazil on the signing date) to acquire 60% equity in Novakem Indústria Química Ltda. (hereinafter referred to as "Novakem" or "Target Company") held by the Counterparties (hereinafter referred to as "this transaction"). Upon completion of this transaction, OYH Brazil will ho

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