Ningbo Jinchang Management Consulting Partnership Enterprise (Limited Partnership) agreed to acquire 13.82% in Gem-Year Logistics Co., Ltd. from Gem-Year Industrial Co., Ltd. for CNY 60.95 million.
September 31, 2020
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Ningbo Jinchang Management Consulting Partnership Enterprise (Limited Partnership) agreed to acquire 13.82% in Gem-Year Logistics Co., Ltd. from Gem-Year Industrial Co., Ltd. (SHSE:601002) for CNY 60.95 million in August 28, 2020. As of December 31, 2019, Gem-Year Logistics Co., Ltd. recorded total assets of CNY 426.8 million, Net asset of CNY 340.33 million, total revenue of CNY 384.29 million and net profit of CNY 23.21 million. The transaction has been approved by board of directors of Gem-Year Industrial Co., Ltd.
GEM-YEAR INDUSTRIAL CO., LTD. is a China-based company, principally engaged in the research and development, manufacture and distribution of mechanical basic parts. The Company mainly provides various types of fasteners, metal products, wire drawings and railway fasteners. The Company provides nuts, bolts, screws, thread rods and non-standard specialty fastening products, among others. The Company's products are applied in several industries, such as road and railway transportation, electric power, automobiles, motors, household electrical appliances and furniture. The Company distributes its products within domestic market and to overseas markets.
GEM-YEAR INDUSTRIAL CO.,LTD. 
