{"id":6161,"date":"2023-01-27T18:40:00","date_gmt":"2023-01-27T10:40:00","guid":{"rendered":"http:\/\/www.chesir.com.cn\/2023\/01\/global-new-material-international-acquires-cqv-a-renowned-global-pearlescent-material-company-to-speed-up-the-layout-of-international-market\/"},"modified":"2023-11-01T17:13:34","modified_gmt":"2023-11-01T09:13:34","slug":"global-new-material-international-acquires-cqv-a-renowned-global-pearlescent-material-company-to-speed-up-the-layout-of-international-market","status":"publish","type":"post","link":"http:\/\/www.chesir.com\/en\/2023\/01\/global-new-material-international-acquires-cqv-a-renowned-global-pearlescent-material-company-to-speed-up-the-layout-of-international-market\/","title":{"rendered":"Global New Material International acquires CQV, a renowned global pearlescent material company, to speed up the layout of international market"},"content":{"rendered":"\n

On 27 January, Global New Material International (06616.HK) entered into a merger and acquisition agreement with CQV (listed on KOSDAQ in Korea, stock code: 101240.KS). Global New Material International will purchase a portion of the shares held by CQV\u2019s former shareholders and the company\u2019s treasury shares for a total consideration of approximately KRW85.9 billion (equivalent to approximately RMB470 million). Upon completion of the transaction, Global New Material International will hold 42.45% of the issued shares of CQV, making it the largest shareholder of CQV.<\/p>\n\n

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The signing of the M&A was attended and witnessed by the Chairman of the Board of Directors of Global New Material International, Mr. Sul Tian and Vice President, Mr. Zhou Fangchao, the Representative Director of CQV Korea, Mr. Jang Gil Play and Vice President, Mr. Lim Kwang Sui, as well as leaders from various intermediaries. The signing marks a new breakthrough in Global New Material International\u2019s globalization strategy.<\/p>\n\n

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CQV is the largest pearlescent material company in Korea and has outstanding brand influence in the global pearlescent material industry. CQV has focused on the pearlescent material industry for more than 20 years and has a strong technical research and development team, global leading intelligent factories, global sales channels and international famous customers; it has the world\u2019s leading synthetic mica-based pearlescent pigment product system. At the same time, it has the world\u2019s leading manufacturing process and technology in the application of high-end pearlescent material such as automotive grade and cosmetic grade.<\/p>\n\n

As a global leader in the synthetic mica and pearlescent material industry, the cross-border acquisition of CQV can rapidly increase the company\u2019s international market share, strengthen its pricing power and enrich its product applications. At the same time, CQV\u2019s far-sighted layout will promote the company\u2019s overall \u201cspecialization and innovation\u201d in research and development, help the company further optimize its raw material supply system, and continue to leverage the company\u2019s advantages in synthetic mica. This move will further expand the business layout in the field of high-end pearlescent material such as automotive grade and cosmetic grade, and fully grasp the rapid growth opportunities in the global market, especially in the automotive and cosmetic pearlescent pigment market in China, so as to fully enhance the company\u2019s global competitiveness.<\/p>\n\n

Cross-border M&A plays an important role in enhancing the position of Chinese enterprises in the global value chain, serving the transformation and upgrading of the domestic economy, and deepening the mutually beneficial and win-win development between China and other countries in the world. At present, Global New Material International is in the stage of rapid international development. In the future, the company will continue to actively explore business opportunities in the international market, enhance the construction of international industrial chain and expand its geographical coverage, so as to further promote the internationalization process and enhance the profitability and comprehensive competitiveness of the company.<\/p>\n\n

This cross-border acquisition is a new milestone in the implementation of the strategy of \u201cendogenous development and outward expansion\u201d, and a new starting point for the internationalization strategy of the company. In the future, the company will fully grasp the development trend of the international new material industry, firmly grasp the opportunity of the rapid growth of the new material industry, strengthen the synergistic development with CQV, and move forward towards the strategic goal of \u201cbecoming a leading global surface performance material company\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

On 27 January, Global New Material International (06616.HK) entered into a merger and acquisition agreement with CQV (listed on KOSDAQ in Korea, stock code: 101240.KS). Global New Material International will purchase a portion of the shares held by CQV\u2019s former shareholders and the company\u2019s treasury shares for a total consideration of approximately KRW85.9 billion (equivalent to approximately RMB470 million). Upon completion of the transaction, Global New Material International will hold 42.45% of the issued shares of CQV, making it the largest shareholder of CQV.<\/p>\n","protected":false},"author":5,"featured_media":3436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[104,11],"tags":[],"class_list":["post-6161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investor-news","category-company-news"],"meta_box":[],"_links":{"self":[{"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/posts\/6161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/comments?post=6161"}],"version-history":[{"count":3,"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/posts\/6161\/revisions"}],"predecessor-version":[{"id":6286,"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/posts\/6161\/revisions\/6286"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/media\/3436"}],"wp:attachment":[{"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/media?parent=6161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/categories?post=6161"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.chesir.com\/en\/wp-json\/wp\/v2\/tags?post=6161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}