Shanghai Smith Adhesive New Material Co.,Ltd (SHSE:603683) agreed to acquire 49% stake in Kunshan Smith Xingye Electronic Materials Co., Ltd. from Wang Shusheng, Song Qiwen, Liu Suxing, Tu Rongli, Guo Xiaofeng, Zhu Yufeng, Sun Yanhong, and Zhu Liya for CNY200 million on July 24, 2023. This transaction has been reviewed and approved at the 31st meeting of the third board of directors of the company, and does not need to be submitted to the general meeting of shareholders for consideration. The source of funds for this acquisition is hanghai Smith Adhesive New Material Co.,Ltd own funds.