CNNC Hua Yuan Titanium Dioxide Co., Ltd agreed to acquire Guizhou Kaiyang Shuangyang Phosphate Co., Ltd. from Guizhou Xinxin Material Technology Group Co., Ltd., Guizhou Xinguangye Enterprise Management Partnership Enterprise (Limited Partnership), Chen Longping and Ming Qiang for CNY 478.1 million.
August 14, 2023
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CNNC Hua Yuan Titanium Dioxide Co., Ltd (SZSE:002145) agreed to acquire Guizhou Kaiyang Shuangyang Phosphate Co., Ltd. from Guizhou Xinxin Material Technology Group Co., Ltd., Guizhou Xinguangye Enterprise Management Partnership Enterprise (Limited Partnership), Chen Longping and Ming Qiang for CNY 478.1 million on August 15, 2023. This transaction has been reviewed and approved at the thirteenth (extraordinary) meeting of the seventh board of directors of the company. For the period ended May 2023, Total assets were of CNY 271 million and net assets were of CNY 146 million.
CNNC HUA YUAN TITANIUM DIOXIDE CO., LTD is a China-based company, principally engaged in the research and development, production and distribution of rutile titanium dioxide and iron oxide pigments. Its titanium dioxide is applied in coatings, plastics, rubber, ink, chemical fibers, paper, cosmetics and other fields. Its iron oxide pigments are applied in building materials, coatings, inks, plastics, ceramics, paper, magnetic recording materials and other industries. The Company distributes its products in both domestic market and to overseas markets.