Haitai Tech plans to acquire the controlling stake of Xuyu Shares; the target company's net profit is expected to exceed 40 million yuan in 2025 | Quick Reading Announcement

China Economic Net (Cailian She) April 6 News (Reporter Xiao Lianghua) Haitai Ke (301022.SZ) released an announcement this evening. The company is currently planning to issue shares and pay cash to acquire control of Qingdao Xuyü Geosynthetics Materials Co., Ltd. (referred to as “Xuyü Shares”), while also raising supporting funds. The company’s stock will be suspended from trading starting tomorrow.

According to the announcement, the target company in this transaction, Xuyü Shares, is a company listed on the National Equities Exchange and Quotations (NEEQ). It has already been delisted. It is expected that this transaction will not constitute a related-party transaction, nor will it constitute a major asset reorganization. It will not result in any change in the company’s controlling shareholder or actual controller.

A Cailian She reporter learned from relevant materials that Xuyü Shares’ principal products include unidirectional / bidirectional geogrid, composite drainage nets, geosynthetic chamber boards, capillary drainage boards, lightweight stretch nets, and other geosynthetic materials. Its application areas include reinforcement of road and railway subgrades, water conservancy projects, slope protection, tunnel drainage, environmental protection engineering, and treatment of saline-alkali land, among others.

Xuyü Shares is a national-level “Little Giant” enterprise specializing in niche, innovation, specialization, and differentiation. Its products have a relatively high domestic market share and are exported to Europe and the United States, Southeast Asia, and other regions. In 2025, the company’s net profit was RMB 43.58 million, up 25.34% year over year.

Haitai Ke stated that the company expects to disclose the plan for this transaction within no more than 10 trading days—that is, it will disclose the relevant information and apply for resumption of trading before April 21. If the company fails to convene a board meeting to deliberate and disclose the plan for this transaction within the aforementioned timeframe, its securities will resume trading at the latest starting April 21 and the related matters being planned will be terminated.

Haitai Ke is a well-known supplier in the automotive injection molding mold industry, and has long focused on the research, development, design, manufacturing, and sales of injection molding molds and plastic components. An industry insider told a Cailian She reporter that expansion of capacity in the automotive grinding media industry is relatively difficult, and Haitai Ke may therefore choose an external acquisition to enhance the company’s profitability.

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