Henan New Industry Investment to acquire majority stake in Guorong Electronic

On July 29, Henan Guorong Electronic Technology Co., Ltd. announced that Henan Xinxing Industry Investment Co., Ltd., a subsidiary of Henan State-owned Capital Operation Group Co., Ltd., plans to acquire no less than 51% of its equity, as part of a strategic move into the aluminum based electronic new materials sector. Upon completion of the transaction, the controlling shareholder of Guorong Electronic will change to Henan Xinxing Industry Investment, and the actual controller will become the State owned Assets Supervision and Administration Commission of the Henan Provincial Government.

Guorong Electronic focuses on core materials for aluminum electrolytic capacitors, with deep expertise in the R&D and production of electronic aluminum foil and electrode foil. The company's electronic aluminum foil holds a stable position among the top three in the Chinese market by market share.