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Shenma Shares announced its intention to transfer a 49% stake in Henan Shouheng New Materials Co., Ltd. to its controlling shareholder, China Pingmei Shenma Holding Group Co., Ltd., for RMB 41.854 million.
Shenma Shares plans to acquire a 45.13% minority stake in Henan Shenma Poly Materials Co., Ltd. from China Pingmei Shenma Group Nylon Technology Co., Ltd. for 237 million yuan, increasing its ownership to 100%.