Royal Group Co.,Ltd. (SZSE:002329) signed an Equity transfer agreement to acquire an additional 24.4% stake in Royal Nongguang Complementary (Guangxi) Technology Co., Ltd. from Guangxi Nanning Xiaoniu Enterprise Management Partnership Enterprise (Limited Partnership) and Zhongguan Investment (Jiangsu) Co., Ltd. for CNY 30.5 million on August 4, 2023. As part of the transaction, Royal Group will acquire 11% stake from Guangxi Nanning Xiaoniu Enterprise Management for CNY 13.75 million and 13.4% stake from Zhongguan Investment for CNY 16.75 million. After the transaction, the shareholding of Royal Group will increase from 56% to 80.40% stake.

As of June 30, 2023, Royal Nongguang Complementary reported total assets CNY 333.1 million and net asset of CNY 134.6 million. The transaction is within the authorization scope of the company?s chairman of the board of directors and does not need to be submitted to the board of directors or shareholders? meeting for deliberation.