# Tongxingda to acquire remaining 49% stake in Zhanhong New Materials for CNY 19.6M

Tongxingda (002845.SZ) announced it will acquire the remaining 49% equity in its subsidiary Zhanhong New Materials for CNY 19.6 million in cash, increasing its ownership from 51% to 100%.

- Type: Acquisition
- Announced: 2022-08-14
- Where: China
- Value: $2.90M (19.6M CNY)
- Status: announced
- Products: polarizing films
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Tongxingda](https://endata.com/companies/64719.md) (acquirer)
- [Zhanhong New Materials](https://endata.com/companies/64720.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/770996.html), 2022-08-14: "交易完成后，公司持有展宏新材的股权比例由51%提升至100%。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.