Hangzhou GreatStar Industrial Co. Ltd. announced plans to buy a combined 1.54% equity stake in Zhejiang MYbank Co. Ltd. for approximately 325 million yuan (US$44.8 million), a strategic move aimed at strengthening the tool manufacturer’s supply chain finance and international e-commerce operations.

According to a company regulatory filing, GreatStar will purchase a 0.86% stake in MYbank from Hangzhou Heboshi E-Commerce Co. Ltd. for 182 million yuan, and an additional 0.68% stake from Wanxiang Sannong Group Co. Ltd. for 143 million yuan. The transaction price is set at 3.20 yuan per share and will be funded entirely through GreatStar's internal cash reserves.

The investment is designed to enhance GreatStar's overall competitiveness in digital retail markets, with a specific focus on cross-border e-commerce. Following the acquisition, the manufacturer plans to utilize MYbank’s proprietary digital financing infrastructure, known as the Dayan System, to provide rapid financing alternatives to more than 1,000 of its domestic upstream suppliers through specialized order and supply-chain loans.

GreatStar also plans to leverage MYbank and its network of international financial partners to extend credit support to overseas distributors operating within developing nations, particularly those tied to China’s Belt and Road Initiative. Corporate executives noted that the credit expansion is expected to directly stimulate product sales in emerging markets.

Beyond strategic supply-chain benefits, GreatStar highlighted MYbank's strong standalone profitability and its position as a leading digital bank utilizing artificial intelligence in financial services. The company expects the acquisition of the financial asset to generate steady investment dividends and reliable financial returns alongside its core manufacturing operations.