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Jianghua Microelectronics Materials to Fully Acquire Subsidiary for 1.5 Million Yuan; Shares Down 9%

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Jiangyin Jianghua Microelectronics Materials (SHA:603078) plans to acquire the remaining 15.5% in subsidiary Jiangyin Jianghua Micro Fuxin Electronic Materials for 1.5 million yuan, bringing its holdings to 100%, according to a Shanghai bourse filing on Thursday.

Jiangyin Jianghua Micro Fuxin Electronic Materials sells electronic and chemical products and provides technology services.

The stake will be acquired from Yin Fuhua, chairman and general manager of Jianghua Microelectronics Materials.

The wet electronic chemical maker's shares slumped 9% during the afternoon trade.

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