China materials group completes RMB1.495bn deal for 29.89% of Zhejiang Jihua, linking pearlescent pigments with textile dye technologies
HONG KONG, Oct. 1, 2026 — Global New Material International Holdings Limited (GNMI) has completed share-transfer registration for a 29.89% controlling stake in Zhejiang Jihua Group Co., Ltd., creating a new growth platform directly relevant to the textile dyeing and printing industry.
The transaction, completed on Sept. 29, follows the acquisition agreement signed in February and involves consideration of approximately RMB1.495 billion. Subsequent steps, including the reorganisation of Zhejiang Jihua’s board, will proceed under the relevant procedures, according to GNMI.
For the Textile, Clothing and Footwear industry, the strategic significance lies in Zhejiang Jihua’s position in textile dyes and dye intermediates. GNMI describes Jihua as a leading participant in China’s disperse-dye segment and says the company operates the world’s third-largest dye production base, with integrated capabilities spanning disperse dyes, reactive dyes and the key intermediate H-acid.
Jihua’s production platform includes nearly 100,000 tonnes of total dye capacity, comprising 75,000 tonnes of disperse dyes and 20,000 tonnes of reactive dyes, alongside 20,000 tonnes of H-acid and 330,000 tonnes of sulphuric-acid capacity, according to the release.
The acquisition therefore gives GNMI exposure to a critical upstream segment of textile manufacturing. Its existing business is centred on pearlescent pigments and synthetic mica, while Jihua brings organic dye chemistry and large-scale fine-chemical manufacturing.
GNMI said the combination could move its materials portfolio beyond pigment-based lustre and colour effects toward a broader platform covering “colour + effect + function.” In practical textile terms, this points to potential integration between pigment technologies and dye systems used in textile coloration and printing.
The textile opportunity is becoming a specific part of GNMI’s expansion strategy. The company said the Jihua acquisition could take its business beyond automotive, cosmetics and industrial coatings and into the textile printing and dyeing sector, while also allowing the two businesses to examine potential colour-material solutions for textile clusters in Southeast Asia and South Asia.
Jihua also provides a sizeable existing industrial and financial base. Its 2025 revenue was RMB1.524 billion, while first-half 2026 operating revenue reached RMB796 million, up 12.27% year on year. Net profit attributable to shareholders was RMB46.16 million, compared with a substantially lower level a year earlier, while operating cash flow rose to RMB111 million.
For textile producers, the deal is notable because dyeing and printing remain strategically important points in the value chain as manufacturers seek greater colour performance, product differentiation, supply security and cost control. GNMI’s existing international distribution network could also provide a route for Jihua’s colour-material portfolio into additional overseas markets.
GNMI said its sales network now reaches more than 150 countries and regions, with customers across automotive and cosmetics supply chains. The company’s stated objective following the Jihua transaction is to combine its inorganic pigment technologies with Jihua’s organic dye and chemical capabilities.
For the global Textile, Clothing and Footwear industry, the transaction is consequently less about a conventional fashion acquisition and more about control and expansion further upstream in the textile colouration chain—bringing dyes, pigments and functional su
