Baiyang Aquatic Group, Inc. (SZSE:002696) agreed to acquire Hainan Jiadexin Foodstuffs Co., Ltd. for CNY 50 million on January 28, 2013. The only shareholder of Hainan Jiadexin Foodstuffs planned to sell all its equities in Hainan Jiadexin Foodstuff to Baiyang Aquatic Group, with transaction amount ranging from CNY 20 million-50 million. For the year ended December 31, 2012, Hainan Jiadexin Foodstuffs' unaudited total assets stood at CNY 64.59 million, net assets at CNY 27.59 million, operating revenue totaled CNY 88.60 million and it lost CNY 3.03 million.
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- Baiyang Aquatic Group, Inc. agreed to acquire Hainan Jiadexin Foodstuffs Co., Ltd. for CNY 50 million.