Kings(SH:603505) Zheng Quan Shi Bao·2025-12-21 18:06Group 1 - The company Jinshi Resources plans to acquire a 15.71% stake in Noah Fluorochemical for a cash consideration of 257 million yuan, making it the second-largest shareholder with a stake only 0.14% less than the largest shareholder [1] - The acquisition is subject to obtaining waivers from other shareholders holding 48.27% of Noah Fluorochemical's shares, and the company has already secured waivers from shareholders holding 51.73% of the shares [1] - The transaction aims to leverage Jinshi Resources' upstream fluorite mining and basic fluorochemical products to expand into the high-growth fine fluorochemical sector, aligning with its strategic direction of "resource + technology" [2] Group 2 - Noah Fluorochemical specializes in the R&D, manufacturing, and sales of fluorinated electronic chemicals, with key products including fluorinated cooling liquids and fluorinated ethers [2] - The company has established a production capacity of 5,000 tons of fluorinated liquids and is a leading player in the domestic immersion liquid cooling market [2] - Jinshi Resources' investment is a strategic extension into fine fluorochemicals, enhancing its value chain and industry integration as a leading upstream fluorochemical enterprise [2]