江南化工(002226.SZ)：拟收购庆华民爆100%股份

Group 1 - Jiangnan Chemical (002226.SZ) plans to acquire 100% of Xi'an Qinghua Civil Explosive Co., Ltd. from Tenu Group for a cash consideration of 644.90 million RMB, making Qinghua a wholly-owned subsidiary after the transaction [1] - The transaction price of 644.90 million RMB is based on the assessed value of Qinghua's total equity as of June 30, 2025 [1] - Tenu Group commits to a cumulative net profit of no less than 127.22 million RMB for Qinghua during the years 2025, 2026, and 2027, with cash compensation required if actual profits fall short [1] Group 2 - Qinghua Civil Explosive Co., Ltd. was established in 1956 and transformed into a limited liability company in 2001, later becoming a joint-stock company in 2009 [2] - Qinghua specializes in the production and sales of industrial detonators and is recognized as one of the most comprehensive manufacturers of industrial detonators in China [2] - As of the announcement date, Qinghua has production capacities for various types of detonators, including 29.5 million detonators for blasting tubes and 6 million electronic detonators [2]