Yantai Taihe New Materials Co., Ltd. acquired 45% stake in Yantai Xinghua Spandex Co., Ltd. from Luxin Venture Capital Group Co., Ltd. for approximately CNY 140 million.
May 11, 2022
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Yantai Taihe New Materials Co., Ltd. acquired 45% stake in Yantai Xinghua Spandex Co., Ltd. from Luxin Venture Capital Group Co., Ltd. (SHSE:600783) for approximately CNY 140 million on May 11, 2022. The transaction has received all necessary regulatory board approvals.
Yantai Taihe New Materials Co., Ltd. completed the acquisition of 45% stake in Yantai Xinghua Spandex Co., Ltd. from Luxin Venture Capital Group Co., Ltd. (SHSE:600783) for approximately CNY 140 million on May 11, 2022.
Luxin Venture Capital Group Co Ltd is a Chinese company mainly engaged in venture capital business and Grinder Industrial Operations. The Company operates through two segments. The Investment Segment is principally engaged in equity investments in new ventures. The Company's key investment areas include information technology, energy conservation and environmental protection, new energy, new materials, biomedicine, high-end equipment manufacturing and other industries. The Grinder Segment is mainly engaged in the production and sales of grinding and abrasive cloth. Its downstream customers are mainly military industry, automobile parts processing, aerospace, and precision processing enterprises.
Yantai Taihe New Materials Co., Ltd. acquired 45% stake in Yantai Xinghua Spandex Co., Ltd. from Luxin Venture Capital Group Co., Ltd. for approximately CNY 140 million.
LUXIN VENTURE CAPITAL GROUP CO., LTD. 
