China National Building Material Co. Restructures Assets

China National Building Material Co (DE:D1Y) has released an update.

China National Building Material Co. has announced an internal asset restructuring with its subsidiary Sinoma Science & Technology acquiring target assets from Sinoma IT for approximately RMB 89.7 million. This acquisition, focused on factory buildings and land use rights in Chengdu, is part of the company’s strategic internal adjustments. The transaction is classified as a connected transaction but is exempt from requiring circular and shareholder approval due to meeting specific financial thresholds.

For further insights into DE:D1Y stock, check out TipRanks’ Stock Analysis page.