Liu Yingshan signed Equity Transfer Agreement to acquire Xinjiang Tianjiao Hongan Agricultural Technology Co., Ltd. from ChenGuang Biotech Group Co., Ltd. and Xinjiang Chenxi Pepper Industry Co., Ltd. for CNY 88.3 million.
June 01, 2022
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Liu Yingshan signed Equity Transfer Agreement to acquire Xinjiang Tianjiao Hongan Agricultural Technology Co., Ltd. from ChenGuang Biotech Group Co., Ltd. (SZSE:300138) and Xinjiang Chenxi Pepper Industry Co., Ltd. for CNY 88.3 million on June 2, 2022. As per the terms, 13.8 million shares will be transferred. Within 26 working days from the effective date of the agreement, 40% of the equity transfer payment will be paid and Within 26 working days after the completion, remaining 60% will be paid. After the completion of the equity transfer, ChenGuang Biotech Group still holds 6.2 million yuan of equity in Xinjiang Tianjiao, accounting for 9.74% of Xinjiang Tianjiao's equity. The transaction has been approved by the 42nd meeting of the fourth session of the board of directors of ChenGuang Biotech Group Co., Ltd. For December 31, 2021, Xinjiang Tianjiao Hongan Agricultural reported Total assets of CNY 622.6 million, net assets of CNY 334.8 million, Operating income of CNY 365 million, operating profit of CNY 69 million and net profit of CNY 65.3 million.
Chenguang Biotech Group Co., Ltd. is a China-based company principally engaged in the manufacture and sales of natural pigment extracts, natural spices extracts, essential oil extracts, natural supplement and medicine extracts, fat and protein and others. The Companyâs products include pigment, spices, supplement and medicine products, cottonseed products and others. The Company distributes its products in domestic and to overseas markets.
Liu Yingshan signed Equity Transfer Agreement to acquire Xinjiang Tianjiao Hongan Agricultural Technology Co., Ltd. from ChenGuang Biotech Group Co., Ltd. and Xinjiang Chenxi Pepper Industry Co., Ltd. for CNY 88.3 million.