On October 27,2023, the Buyer (indirect wholly-owned subsidiary of the Company) issued an announcement by Weili Holdings (02372.HK).The Company entered into a machinery purchase agreement with Dangyang Jinsanxia Unicom Printing Co., Ltd., a seller, pursuant to which the buyer agreed to acquire and the seller agreed to sell the machinery at a total consideration of RMB21, 390, 000.
According to the Machinery Purchase Agreement, the buyer will acquire and the seller will sell machinery, including two printing presses and a positioning cross-cutting machine for the production of coloured cigarette wrappers.
In order to further expand the Group's product portfolio and capture these opportunities, the Group is currently developing technical requirements for the colour process and requires the machinery required for the colour printing process. After careful consideration, the Directors are of the opinion that the acquisition of machinery would be more appropriate and appropriate given the current business environment and development needs of the above group.