China Hongqiao Group Ltd. has announced an update regarding its intended acquisition transaction involving Hontron Holding and existing shareholders of Hongtuo Industrial, including Weiqiao Aluminum & Power. On 22 May 2025, Hontron Holding entered into a Supplemental Agreement with these shareholders to facilitate the acquisition of target shares through the issuance of new shares. This follows previous announcements on 23 December 2024 and 6 January 2025 concerning the "agreement of intent for the acquisition of assets by issuance of shares." The board of directors of Hontron Holding had resolved and approved the proposal for the transaction on 6 January 2025. Further details are available in the restructuring report on the SZSE website.
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