Hucais Printing Co.,Ltd. completed the acquisition of remaining 55% stake in Tianjin Rongcai 3D Technology Co., Ltd. from Masterwork Group Co., Ltd..
January 14, 2019
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Hucais Printing Co.,Ltd. agreed to acquire remaining 55% stake in Tianjin Rongcai 3D Technology Co., Ltd. from Masterwork Group Co., Ltd. (SZSE:300195) for CNY 27.8 million on December 3, 2018. As of December 31, 2017, Tianjin Rongcai 3D Technology Co., Ltd. reported total assets of CNY 46.96 million, net assets of CNY 47.2 million, revenue of CNY 0.03 million, net loss of CNY 8.4 million. The transaction has been approved by the 28th session of the 4th directorate meeting of Masterwork Group Co., Ltd. and does not need its shareholders’ approval.
Hucais Printing Co.,Ltd. completed the acquisition of remaining 55% stake in Tianjin Rongcai 3D Technology Co., Ltd. from Masterwork Group Co., Ltd. (SZSE:300195) on January 15, 2019.
Masterwork Group Co., Ltd., formerly Masterwork Machinery Co., Ltd., is principally engaged in the research, development, production and distribution of printing equipment. The Company mainly provides hot stamping machines, mainly applied in gilding, die cutting, creasing and pressing of paper packaging decoration materials, such as paper boxes and trademarks; die cutting machines, mainly applied in die cutting, creasing and cold pressing of trademarks, paper boxes and greeting cards, pasting machines, mainly used for molding processing of foods, liquor and tobacco, medicine and cosmetics, as well as inspection equipment and others. The Company distributes its products in both domestic and overseas markets.
MASTERWORK GROUP CO.,LTD. 
