Jiangsu Hongde Special Parts Co.,Ltd. (SZSE:301163) agreed to acquire remaining 49% stake in Nantong Hong'an Metal Manufacturing Co., Ltd. from KOIZUMI Co., Ltd. and Kawawa Foundry Inc. for CNY 24.9 million on November 28, 2022. KOIZUMI will sell 10% stake for CNY 5.083430 million and Kawawa Foundry will sell 39% stake for CNY 19.777299 million in Nantong Hong'an Metal Manufacturing. Nantong Hong'an Metal Manufacturing has reported total assets of CNY 115.7912 million and net assets of CNY 29.5855 million on December 31, 2021.

The board of Jiangsu Hongde Special Parts has approved the deal.