Anjie industrial (01639) announced that on March 22, 2019, anjie panyu, a wholly-owned subsidiary of anjie industrial (01639), entered into a property rights trading contract with Yangtze river chemical co., LTD., which involved the purchase of 38% of jiujiang fairax shares at a price of RMB 22.310,500 through public bidding on the Beijing property rights exchange.

Entered into the jinglong property rights transaction contract with the independent third party jinglong, which is related to the acquisition of 10% equity stake of jiujiang feliks at a price of RMB 5,871,200.

The announcement shows that jiujiang feliks' main business is the production and sales of flexible copper foil laminate circuit and its products. Its losses in 2017 and 2018 were 1.937 million yuan and 846,000 yuan respectively.

The company said that in view of the prospect of commercial 5G networks and the increasing popularity of liquid crystal polymers for improving transmission functions, the group is also committed to developing new materials and new production processes for high-speed and high-frequency transmission to make flexible circuit boards and explore new applications of flexible circuit boards.

In addition, the acquisition will help the company grasp the pioneering advantages of new material research and development, and prepare the company for the era of 5G network.