Jiangsu Lanfeng Bio-chemical Co.,Ltd completed the acquisition of Jiangxi Deshipu New Materials Co., Ltd.
May 22, 2022
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Jiangsu Lanfeng Bio-chemical Co.,Ltd (SZSE:002513) agreed to acquire Jiangxi Deshipu New Materials Co., Ltd for CNY 302.4 million on December 6, 2021. Within 3 working days after the agreement signing and the Jiangsu Lanfeng Bio-chemical Co.,Ltd Directorate's approval, the Company will pay a deposit of CNY 10 milllion, Within 3 working days after the agreement signing and the Jiangsu Lanfeng Bio-chemical Co.,Ltd shareholders' approval, will pay CNY 32.4 million (including the deposit), Within 5 working days after Jiangxi Deshipu New Materials Co., Ltd.'s registered capitalis fully paid and the capital verification report is issued, the Company will pay CNY 70 million. The remaining amount will be based on Jiangxi Deshipu New Materials Co., Ltd.'s performance, i.e. If its audited 2022 net profit after deducting non-recurring gains and losses is not less than CNY 50 million, the Company will pay CNY 60 million If its audited 2023 net profit after deducting non-recurring gains and losses is not less than CNY 60 million, the Company will pay CNY 70 million If its audited 2024 net profit after deducting non-recurring gains and losses is not less than CNY 60 million the Company will pay CNY 70million. After the completion of the share transfer, the Company will carry out Jiangxi Deshipu New Materials Co., Ltd.'s capital increase, increasing its registered capital from USD 16 million to CNY 300 million, and the full capital increase amount will go to registered capital. The transaction have been approved in the 7th Meeting of the Jiangsu Lanfeng Bio-chemical Co.,Ltd 6th Directorate and the 6th Meeting of the Jiangsu Lanfeng Bio-chemical Co.,Ltd 6th Supervisory Board, and are subject to the Shareholders' Approval.
Jiangsu Lanfeng Bio-chemical Co.,Ltd (SZSE:002513) completed the acquisition of Jiangxi Deshipu New Materials Co., Ltd recently.
Jiangsu Lanfeng Bio-chemical Co.,Ltd. is a China-based company mainly engaged in the manufacture of fungicides, herbicides, insecticides and the fine chemical intermediate products. The Companyâs products consist of fungicides, such as carbendazim suspending agents, carbendazim wettable powders, thiophanate-methyl wettable powders and others; herbicides, such as sugarcane herbicides; insecticides, such as chloronicotinyl insecticides, pyrethriods pesticides, acaricide and others, and fine chemical intermediate products, such as ethyl chloroformate and methylclhlorofonmate. The Company also provides raw materials, such as thiophanate-methyl raw materials, carbendazim raw materials and benomyl, as well as processing products, sulfuric acids and other products. The Company is also engaged in the research, development, production and distribution of pharmaceuticals. The Company distributes its products within domestic market and to overseas markets.