Shanghai Boyang Textile Technology Co., Ltd.

Wensli announced it will acquire the remaining 49% equity of its subsidiary Hangzhou Boyang New Materials Technology Co., Ltd. for 12.25 million yuan, increasing its ownership to 100%.

Wanshili plans to acquire 31% equity of Hangzhou Boyang New Material Technology Co., Ltd. from Shanghai Boyang Textile Technology Co., Ltd. for 16.5 million yuan, increasing its total stake to 51%.