[Xinde New material: plans to acquire 80% stake in Chengdu Yutai] Xinhua News Agency, Xinde New material announcement, the company intends to use some of the super-raised funds to acquire 80% of the equity of Chengdu Yutai New material Technology Co., Ltd. (referred to as "Chengdu Yutai") and pay a total of no more than 195 million yuan in intermediary fees. Chengdu Yutai is the only enterprise in southwest China that has obtained the ethylene tar supply qualification of Sichuan Sinopec. Through this acquisition, the company can lock in the upstream high-quality raw material resources of more than 100000 tons. This acquisition will enable the company to further guarantee supply, quantity, quality and price on the raw material side, thus strengthening the supply chain guarantee system.