On May 22nd 2013, YTH Co. Ltd announced that its subsidiary Chongqing Polycomp International Corporation (hereafter referred as "CPIC") would acquire 60% equity of Hongfa Zongheng New Material Technology Co., Ltd. (hereinafter referred to as Hongfa) at a purchasing price of 323 million yuan. CPIC is the third biggest fiberglass manufacturer in the world and Hongfa is the major client of its wind power yarn and the leading enterprise in the wind power multiaxial fabric area.

CPIC engaged Dragon Wings as its financial advisor in this transaction.