Superstar Technology: Intends To Invest 1.1 Billion Yuan To Indirectly Acquire 12.91% Equity Of Zhongce Rubber

- May 29, 2019-

Superstar Technology (002444) announced on the evening of May 28 that the company will jointly fund Hangzhou Zhongce Haichao with Hangzhou Fork Group, Superstar Holding Group Co., Ltd. and Hangzhou Haichao Enterprise Management Partnership, which will be used to acquire Zhongce Rubber's equity in cash. After the completion of this transaction, Zhongce Haichao will receive a total of 46.95% equity of Zhongce Rubber. The company intends to invest about 1.1 billion yuan in Zhongce Haichao, accounting for 27.50% of the registered capital of Zhongce Haichao after the completion of the capital contribution. Upon completion of the transaction, the company will indirectly hold a 12.91% interest in Zhongce Rubber.