A subsidiary of Credit Insurance Global Holdings (00723) signed a Memorandum of Cooperation on the possible acquisition of 51% of Beijing Zhongran Xinchuang Technology's shares

Zhitong Finance App News, Credit Insurance Global Holdings (00723) issued an announcement. On September 15, 2026 (after the trading period), Huitong Minerals, an indirect wholly-owned subsidiary of the company, signed a memorandum of cooperation with the seller Mr. Guo Yanqing on possible acquisitions.

The buyer plans to buy 51% of the target company Beijing Zhongran Xinchuang Technology from the seller. The main business of the target group is the development, manufacture and sale of automotive interiors (mainly including but not limited to composite decking). If a possible acquisition is implemented, the member companies of the target group will be indirect non-wholly-owned subsidiaries of the Company after the possible acquisition is completed, and their financial results will be consolidated and recorded in the Company's financial statements.

According to the Memorandum of Cooperation, Huitong Minerals must pay the seller RMB 10 million as a refundable security deposit for possible acquisitions.

Although the Group is mainly engaged in forest-related business (including timber supply chain and sustainable forest management) and money lending business, it is actively seeking business opportunities that can create value. The Group intends to acquire high-quality businesses with good potential to diversify the business portfolio and enhance profitability.

The seller and target group management team have extensive experience in the automotive interior industry in mainland China, covering R&D, technology development, production and sales capabilities. They have established and maintained good cooperative relationships with major automobile manufacturers in mainland China to support the stable operation and future business development of the target group. Such industry expertise and established partner networks form the core strengths of the seller and target group.

The Board believes that in the long run, a possible acquisition will not only increase the Group's revenue stream, but also benefit the Group's future business expansion and development. Furthermore, the MOU provides the Group with an exclusive negotiation period for detailed due diligence and more time to negotiate better terms with the seller on a formal acquisition agreement.