Man Wah Holdings Limited’s indirect wholly-owned subsidiary, Man Wah USA Manufacturing Limited, has entered into a purchase and sale agreement with Gainline Recline Holdings, LLC to acquire 100% of the issued and outstanding capital stock of Gainline Recline Intermediate Corp., a Delaware corporation. The transaction involves the purchase of 1,000 shares, representing the entire equity interest in the Target Company, for a closing payment amount of US$32,000,000. The acquisition was finalized on 18 December 2025.
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