Shanghai Huayi Group Corporation Limited (SHSE:600623) agreed to acquire 60% stake in Shanghai Huayi Industrial Gases Co., Ltd. from Shanghai Huayi Holdings Group Co., Ltd. for CNY 830 million on July 2, 2024. As of March 31, 2024, Shanghai Huayi Industrial Gases Co., Ltd. reported total assets of CNY 176.38 billion and total common equity of CNY 119.73 billion. The transaction is subject to approval of offer by acquirer shareholders.

The deal has been approved by the board of Shanghai Huayi Group Corporation Limited.