Summary by Moomoo AI
China Graphite Group Limited (the “Company”) announces that Contracting Party A of its wholly-owned subsidiaries will, through a three-party agreement, acquire from Contracting Party B the remaining 60% of the shares of the Target Company and 100% of the shares of the Target Company. Upon completion of this share purchase transaction, the target company will become an interim wholly-owned subsidiary of the Company and its financial performance will be consolidated and entered into the Company's accounts. In addition, the target company signed a land use right agreement on 26 May 2023 with the Wenden District Natural Resources Bureau of Weihai, agreeing to acquire industrial land rights for a period of 50 years at a total price of RMB55,888,422, of which approximately 50% has...Show More