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Jiangfeng Electronics plans to acquire a 20.64% stake in Beijing Kede Quartz Co., Ltd. for 590.7 million yuan in cash, making Kede Quartz its controlling subsidiary. Kede Quartz produces quartz glass products for semiconductor and photovoltaic industries.
“Jiangfeng plans to acquire control of Kede Quartz in cash; upon completion of the transaction, Kede will become its controlling subsidiary.”news.futunn.com
Summarized from public sources; check the original articles before acting on it.