ZRP Printing Group Co., Ltd (SZSE:301223) signed share transfer agreement to acquire 70% stake in Matsuoka Printing Co., Ltd. from Pan Zhonghua and Pan Yuexin for approximately CNY 190 million on July 16, 2024. As per the transaction, ZRP Printing Group Co., Ltd will acquire 35 million shares of in Matsuoka Printing Co., Ltd. As per the transaction, Pan Zhonghua will sell 55% stake and will retain 24% stake in Matsuoka Printing Co., Ltd. and Pan Yuexin will sell its 15% stake in Matsuoka Printing Co., Ltd. The transaction will take place in two tranches, in first tranche 34.75% stake of Matsuoka Printing Co., Ltd. will be acquired for CNY 95.25 million and in second tranche 35.25% stake of Matsuoka Printing Co., Ltd. will be acquired for CNY 96.62 million As of April 30, 2024, Matsuoka Printing Co., Ltd. reported total assets of CNY 319.43 million and total common equity of CNY 162.99 million. The transaction is subject to approval by board of directors of ZRP Printing Group Co., Ltd and approval by Shenzhen Stock Exchange.