The company has acquired a further 9,455,600 shares in Dongying Hi-Tech Spring Chemical Industry Co for a total cash consideration of RMB30.3m ($4.69m).
HaiKe made this acquisition through its 88.85%-owned subsidiary Shandong Hi-Tech Chemical Group.
With this acquisition, the company increases its shareholding in Hi-Tech Spring from 53.83% to 91.52%.
HaiKe executive chairman Xiaohong Yang said this interest acquisition is immediately earnings enhancing and will improve synergies in HaiKe’s petrochemical business.
"This strategic move increases our exposure in certain specialty chemicals commonly used in vital industries such as agriculture and food," Yang said.
