Hongbaoli Group Corporation, Ltd. cancelled the acquisition of 10% stake in Nanjing Hongbaoli Alcohol Amine Chemical Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd.
June 07, 2019
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Hongbaoli Group Corporation, Ltd. (SZSE:002165) signed an agreement to acquire additional 10% stake in Nanjing Hongbaoli Alcohol Amine Chemical Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd. for CNY 73.8 million on June 8, 2018.
Nanjing Hongbaoli Alcohol Amine Chemical reported revenues of CNY 615.99 million, total assets of CNY 343.16 million, operating profit of CNY 78.08 million, net income of CNY 68.74 million and net assets of CNY 253.73 million on December 31, 2017. The 18th meeting of the 8th directorate of Hongbaoli Group approved the deal.
Hongbaoli Group Corporation, Ltd. (SZSE:002165) cancelled the acquisition of 10% stake in Nanjing Hongbaoli Alcohol Amine Chemical Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd. on June 8, 2019.
Hongbaoli Group Corporation Ltd is a China-based company mainly engaged in the research and development, production and sales of propylene oxide derivatives. The Company is also engaged in the research and development, production and sales of propylene oxide and polyurethane insulation boards. The propylene oxide derivatives include polyurethane rigid foam combination polyether, special polyether and isopropanolamine series products. The Company's products are exported to Asia, Europe, America, Africa and other countries and regions.
Hongbaoli Group Corporation, Ltd. cancelled the acquisition of 10% stake in Nanjing Hongbaoli Alcohol Amine Chemical Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd.
HONGBAOLI GROUP CORPORATION, LTD. 
