Grand Industrial Holding Co.,Ltd signed an agreement to acquire 85.1% stake in Fujian Kaili Biological Products Co., Ltd. from a group of sellers for approximately CNY 480 million.
April 29, 2021
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Grand Industrial Holding Co.,Ltd (SZSE:000626) signed an agreement to acquire 85.1% stake in Fujian Kaili Biological Products Co., Ltd. from a group of sellers for approximately CNY 480 million on April 29, 2021. Under the terms, Grand Industrial Holding will acquire 12%, 4%, 3.7634%, 1.5616%, 1%, 20.1302%, 17.5%, 4.8698%, 4.1667%, 4.1667%, 3.8958%, 3.8958%, 3.3333%, 0.8333% stakes from Zhao Liping, Xiamen Kaisheng Trading, Fujian Governor Taikaili Investment Consulting Partnership, Xiamen Kaili Investment Partnership, Chen Zhuohu, Wang Chunhua, Zhang Mingrong, Qi Yufang, Zhou Donghai, Yan Weihua, Xiamen Xidi No. 1 Investment Partnership, Xiamen Xidi No. 2 Investment Partnership, Wang Mingqian and Zhu Shuting. The financials of Fujian Kaili Biological Products for December 31, 2020, revenues of CNY 116.2 million, total assets of CNY 162.1 million, net assets of CNY 110.8 million, total profit of CNY 34.1 million and net profit of CNY 30.48 million. The transaction is approved by the Board of Directors and subject to approval of shareholders of Grand Industrial Holding.
Grand Industrial Holding Co., Ltd., formerly LIANYUNGANG IDEAL GROUP CO.,LTD, is primarily engaged in commodity trading and logistics agency business. The Companyâs business activities comprise the trading of plastic goods, rubber goods, liquefied goods, metal goods and other goods, as well as the provision of logistics agency services. The Company distributes the goods in domestic market and to overseas markets.
Grand Industrial Holding Co.,Ltd signed an agreement to acquire 85.1% stake in Fujian Kaili Biological Products Co., Ltd. from a group of sellers for approximately CNY 480 million.
GRAND INDUSTRIAL HOLDING CO.,LTD 
