HuHua Corporation: intends to acquire no less than 51% equity of Tianning Chemical to expand the civil explosive main business

Jinshi Data News on December 19th, Hua Hua shares announced in the evening that the company has signed an acquisition framework protocol with the trade union committee of Hebei Tianning Chemical Co., Ltd., intending to acquire no less than 51% of the equity of Hebei Tianning Chemical Co., Ltd. The final transaction price will be determined through negotiation with the intermediary institution’s report as reference. The signing of this framework protocol is another important strategic layout for the company to expand its civilian explosives business after the acquisition of Anshun Chemical. Tianning Chemical has a production capacity of 36,000 tons of explosives. After the restructuring of Tianning Chemical is completed, the company’s total production capacity of explosives will be 114,000 tons.