C&D NEWIN (00731) announced that the company's board of directors has been informed by Hong Kong Paper Source Limited (Hong Kong Paper Source, one of the company's controlling shareholders, indirectly holding 70% of the company's issued share capital) that it has acquired 55 shares of NCD Investment Holding Limited (NCD) from Glenfor Investment Holding Limited (Glenfor), representing 55% of NCD's total issued share capital. As of the announcement date, NCD is the company's direct controlling shareholder, holding 990 million ordinary shares of the company, representing 70% of the issued shares. Prior to the acquisition, NCD was held 55% by Glenfor (which is wholly owned by Hong Kong Paper Source) and 45% directly by Hong Kong Paper Source. Following the acquisition, NCD will become a direct wholly-owned subsidiary of Hong Kong Paper Source. The primary reason for conducting the acquisition and adjusting the shareholding structure is to simplify Hong Kong Paper Source's shareholding structure.