Ningbo Changhong Polymer Scientific & Technical Inc

Changhong High-Tech has disclosed a revised draft plan for issuing shares, convertible corporate bonds, and cash payments to acquire assets and raise supporting funds in a related-party transaction, under which it intends to acquire a 100% stake in Guangxi Changke New Materials Co., Ltd. This acquisition is a core move by the company to improve its new materials business layout and advance vertical integration of the industrial chain. Guangxi Changke is a key downstream customer for Changhong High-Tech's LCBR and SSBR product series. In 2024, 2025, and the first seven months of 2026, its tax-exclusive purchases of the above rubber products from Changhong High-Tech reached 21.51 million yuan, 80.75 million yuan, and 60.52 million yuan respectively, and it is expected to bring total sales revenue of more than 500 million yuan to the listed company over the next three years. After the transaction is completed, Changhong High-Tech will add specialty synthetic resin categories such as transparent ABS, high-transparency MS, and high-nitrile AS. Among them, Guangxi Changke's independently developed bulk-process transparent ABS has achieved a breakthrough in domestic industrial-scale production, breaking the long-term technology monopoly of overseas companies. Financial data show that in the first seven months of 2026, Guangxi Changke achieved operating revenue of 1.408 billion yuan and net profit of 33.22 million yuan, with flexible production capacity of 600,000 tonnes per year for synthetic resins and a supporting 90,000-tonne-per-year engineering resin black masterbatch project. On the same day, Changhong High-Tech announced plans to change its auditor for 2026 to Zhejiang Kexin Certified Public Accountants, replacing the previous auditor Lixin Zhonglian Certified Public Accountants. The audit firm transition and work handover have been completed smoothly, clearing intermediary-level obstacles to accelerate subsequent audit and valuation work.

Changhong High-Tech's wholly owned subsidiary Changhong Bio successfully bid 19.67 million yuan for an industrial land parcel in Shengzhou City. The site will be used to build a new material project with an annual capacity of 50,000 tonnes of high-end fiber elastomer and a supporting 100,000 tonnes per year PBAT black masterbatch unit. Total planned investment is approximately 630 million yuan, with a construction period of 18 months. The project will leverage deep processing of the byproduct tetrahydrofuran from the existing PBAT plant, creating a circular industrial economy and strengthening supply chain synergies.