Panda Fireworks $62.66 million to buy East letter Fireworks

NetEase Finance August 4 News of the Wednesday evening Panda Fireworks announced that the company and Mr. Zhongzich signed the "Share Transfer agreement", proposed to invest 62.66 million yuan to buy into Mr. Zhong Liuyang Fireworks Holdings Limited 51% of the equity, the acquisition does not constitute a related transaction. Panda Fireworks said that the acquisition can adjust the company's business structure, strengthen the company's production and research strength, reduce procurement costs, expand internal and external sales and discharge market share, in line with the company's development strategy.　　The implementation of this acquisition will help to improve the company's industry position and competitiveness, enhance the profitability of the company, the company is expected to have a better performance impact. Trading each other's situation introduction Zhongzich, male, Chinese citizen, residence for Hunan province Liuyang along Creek Town, now holds the Liuyang East Letter Fireworks Group Co., Ltd. 51.67% of the equity.