On October 14th, according to a report from Caihua News, Sunny International (01046-HK) revealed that its wholly-owned subsidiary, Xiangjiang Entertainment Culture, has signed a non-binding memorandum of understanding with the seller to acquire 85% of the issued share capital of the target company.
The details regarding the number of shares to be acquired, the purchase price, and the payment method are still under discussion between the parties and will be finalized in the official agreement. The Target Group specializes in the production, supply, and distribution of spectacle frames and other optical products. The target company is incorporated in the Cayman Islands and operates as a limited liability entity.
This update was originally reported by China Spectacle Trading Network.
Sunny International's move signals a strategic expansion into the optical industry, aiming to strengthen its market position through this potential acquisition. The deal, if finalized, could bring significant growth opportunities for the company, especially in the competitive eyewear sector. Analysts are closely watching how this development unfolds, as it may have broader implications for the company’s long-term strategy and financial performance.
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