GNMI Completes Share Transfer for 29.89% Controlling Stake in Zhejiang Jihua

PR Newswire·1 Oct 2026·

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Corporate Action M&A · Partnership Chemicals

6616.HK ▲

603980.CG ▲

Summary · why it matters

Global New Material International Holdings Limited announced that the registration of the share transfer for its acquisition of approximately 29.89% of the shares of Zhejiang Jihua Group Co., Ltd. was completed with China Securities Depository and Clearing Corporation Limited, Shanghai Branch on 29 September 2026. The transaction, signed on 6 February 2026, took approximately eight months to complete and involved a consideration of RMB1,495 million, with subsequent arrangements including the reorganisation of Zhejiang Jihua's board of directors to proceed in accordance with relevant procedures. Zhejiang Jihua operates the world's third-largest dye production base and reported 1H2026 operating revenue of RMB796 million, up 12.27% year-on-year, and net profit attributable to shareholders of RMB46.16 million, up 1,235.47% year-on-year. GNMI, which acquired CQV in Korea in 2023 and SUSONITY for EUR665 million in July 2025, reported 1H2026 revenue of RMB2,558.3 million, up 180.5% year-on-year, and issued RMB1.3 billion in convertible bonds on 24 September 2026 at an initial conversion price of HK$10.93 per share. Dr SU Ertian has increased his shareholding on multiple consecutive occasions and currently holds 36.4% of the Company's shares.

Global New Material International Holdings Ltd ▲

Zhejiang Jihua Group Co Ltd ▲