Anhui Genuine New Materials Co., Ltd completed the acquisition of 69.96% in Qujing Qilin Fupai Printing Co., Ltd. from Kunming Hengyilong Industrial Co., Ltd. and Qujing Zhanyi Changxing Printing Co., Ltd.
January 11, 2018
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Anhui Genuine New Materials Co., Ltd (SHSE:603429) signed a share transfer agreement to acquire 69.96% in Qujing Qilin Fupai Printing Co., Ltd. from Kunming Hengyilong Industrial Co., Ltd. and Qujing Zhanyi Changxing Printing Co., Ltd. for CNY 45.8 million on January 10, 2018. Kunming Hengyilong Industrial Co., Ltd. will sell 48.93% stake for CNY 32.1 million and Qujing Zhanyi Changxing Printing Co., Ltd. will sell 21.03% stake for CNY 13.8 million. For the year ended December 31, 2016, Qujing Qilin Fupai Printing Co., Ltd. reported total assets of CNY 44.6 million, net assets of CNY 31.01 million, revenues of CNY 42.4 million and net profit of CNY 5.2 million. The Board of Directors of Qujing Qilin Fupai Printing Co., Ltd. approved the deal.
Anhui Genuine New Materials Co., Ltd (SHSE:603429) completed the acquisition of 69.96% in Qujing Qilin Fupai Printing Co., Ltd. from Kunming Hengyilong Industrial Co., Ltd. and Qujing Zhanyi Changxing Printing Co., Ltd. on January 12, 2018.
Anhui Genuine New Materials Co Ltd is a China-based company mainly engaged in the research and development, manufacture and sales of tipping papers for cigarettes, cigarette label, sealing papers for cigarettes and anodized aluminum. The Company's main products include tipping papers for cigarettes, sealing papers for cigarettes, anodized aluminum and cigarette labels. The Company operates its businesses primarily within the domestic market.
ANHUI GENUINE NEWMATERIALS CO.,LTD. 
