Yongkang Small and Micro Enterprise Park Investment Construction Co., Ltd. completed the acuqisition of Zhejiang Daoming Kechuang Industrial Co., Ltd. from Daoming Optics & Chemical Co., Ltd.
November 27, 2022
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Yongkang Small and Micro Enterprise Park Investment Construction Co., Ltd. signed the share transfer agreement to acquire Zhejiang Daoming Kechuang Industrial Co., Ltd. from Daoming Optics & Chemical Co., Ltd. for CNY 630 million on November 9, 2022. Equity consideration of approximately CNY 460 million will be offset against receivables owned by Daoming Optics & Chemical to Zhejiang Daoming Kechuang Industrial. For the period ended August 31, 2022, Zhejiang Daoming Kechuang reported total assets of CNY 1.52 billion and net assets of approximately CNY 300 million. Daoming Optics & Chemical board approved the deal and shareholders approval is pending. As on November 28, 2022, Daoming Optics&Chemical Co.,Ltd held the first extraordinary general meeting of shareholders, and reviewed and approved.
Yongkang Small and Micro Enterprise Park Investment Construction Co., Ltd. completed the acuqisition of Zhejiang Daoming Kechuang Industrial Co., Ltd. from Daoming Optics & Chemical Co., Ltd. on November 28, 2022. Recently, Daoming Optics&Chemical has received third phase transfer consideration of CNY 80 million. As of January 4, 2023, Daoming Optics&Chemical has received fourth phase transfer consideration of CNY 47 million.
DAOMING OPTICS&CHEMICAL CO.,LTD a China-based company principally engaged in the research, development, design and manufacture of various kinds of functional membrane materials, such as reflective materials and reflective products. The Company's main products include reflective film and reflective cloth in various specifications and of various levels, reflective products made of reflective film and reflective cloth, flexible lithium-ion battery packaging film and other functional membrane materials. The Company's products are mainly used for road traffic safety and personal safety protection. The Company distributes its products in domestic market and to overseas markets.
Yongkang Small and Micro Enterprise Park Investment Construction Co., Ltd. completed the acuqisition of Zhejiang Daoming Kechuang Industrial Co., Ltd. from Daoming Optics & Chemical Co., Ltd.