Shenma Industry Co.Ltd agreed to acquire additional 9.75% stake in Henan Shenma Puli Materials Co., Ltd. from China Pingmei Shenma Group Nylon Technology Co., Ltd. for CNY 21.7 million.

Shenma Industry Co Ltd is a China-based company mainly engaged in the production and sales of nylon 66 industrial yarn, cord fabric, chips, and adipic acid. The Company's main products are industrial yarns, cord fabrics, nylon 66 chips, adipic acid, bisphenol A, PC, and other products include cyclohexane, aramid fibers, flame-retardant fibers, dope dyed yarns and nylon 6 civilian yarns. The Company mainly distributes its products in domestic and foreign markets.