Tian'an New Material announced on December 30 that the company intends to acquire 100% equity of Zhejiang Ruixin Decoration Material Co., Ltd. The company signed the Investment and M&A Framework Agreement with the Counterparty and Target Company and reached a preliminary agreement of intent on the equity acquisition. The final acquisition amount and other contents shall be subject to the formal agreement separately signed.

The Target Company is a professional manufacturer of decorative materials and has been focusing on the R&D and manufacturing of decorative materials such as high-end refractory plates and non-combustible high-pressure resins.