Global New Material International Holdings Limited announced the completion of its connected and major transaction involving the purchase of JH Sale Shares. All conditions precedent under the Share Transfer Agreement, including Shanghai Stock Exchange compliance confirmation, were satisfied, enabling the share transfer to close on 29 September 2026.

Through its investment vehicle Junheng LLP, Global New Material now holds 202.31 million shares of Zhejiang Jihua—equivalent to 29.89 % of the company’s issued share capital—making Junheng LLP the single largest and controlling shareholder of Zhejiang Jihua.

A shareholders’ meeting of Zhejiang Jihua will be convened before the end of October 2026 to vote on the appointment of new directors nominated by Junheng LLP, replacing the existing board and formalising post-acquisition governance changes.