Guangdong Huiyun Titanium Industry Co., Ltd. (SZSE:300891) signed Letter of Intent to acquire unknown controlling stake in Guangxi Detian Chemical Cycle Co.,Ltd from Dongguan Litai Venture Capital Partnership Enterprise (L.P.), Li Min, and Tang Zhizhong on August 29, 2023. Guangdong Huiyun Titanium Industry Co., Ltd. use self raised cash to acquire Guangxi Detian Chemical Cycle. Guangxi Detian Chemical Cycle Co.,Ltd reported total assets of CNY 161.68 million, net assets of CNY 34.89 million, operating income of CNY -32.97 million, operating revenue of CNY 279.2292 million, net income of CNY -33.38 million on December 31, 2022.

Guangdong Huiyun Titanium Industry Co., Ltd. board of directors approved the transaction.