# Tongyizhong to acquire 70% stake in Yancheng Youhebo New Materials

Tongyizhong (688722.SH) signed an agreement to use CNY 180 million to subscribe for new registered capital in Yancheng Youhebo New Materials, acquiring a 70% stake after the capital increase.

- Type: Acquisition
- Announced: 2022-11-17
- Where: China
- Value: $25.0M (180.0M CNY)
- Status: announced
- Products: high-performance fibers and composites
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Tongyizhong](https://endata.com/companies/66697.md) (acquirer)
- [Yancheng Youhebo New Materials](https://endata.com/companies/66698.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/832933.html), 2022-11-17: "同益中使用自有资金人民币1.8亿元认购优和博新材料新增注册资本1.4亿元，占增资后优和博新材料注册资本70%。"

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