Zhejiang Kairong Special Paper Co., Ltd. agreed to acquire an additional 14.5% stake in Zhejiang Kan Specialities Material Co., Ltd. (SZSE:002012) from Zhongtai Specialty Financing Holdings Co., Ltd. for approximately CNY 360 million on December 7, 2022. Under the terms, Zhejiang Kairong Special will acquire 14.5% stake at CNY 5.30 per share. Post acquisition, Zhejiang Kairong will directly own 102,467,917 shares in the company, accounting for 21.91% stake.

Zhejiang Kairong Special Paper Co., Ltd. completed the acquisition of an additional 14.5% stake in Zhejiang Kan Specialities Material Co., Ltd. (SZSE:002012) from Zhongtai Specialty Financing Holdings Co., Ltd. on February 7, 2023.