Ningbo Shanshan Co., Ltd. cancelled the acquisition of F5 to F8 of Shanshan International Business Building from Ningbo Shanshan Yongjiang Property Co., Ltd.
January 17, 2013 at 11:00 pm
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Ningbo Shanshan Co., Ltd. (SHSE:600884) signed a contract to acquire F5 to F8 of Shanshan International Business Building from Ningbo Shanshan Yongjiang Property Co., Ltd. on January 18, 2012. In a related transaction, Ningbo Xinmingda Knitting Co., Ltd., subsidiary of Ningbo Shanshan, agreed to acquire F18 to F23 of Shanshan International Business Building from Ningbo Shanshan Yongjiang Property. The combined transaction price for the transactions is CNY 80.4 million. From the consideration, Ningbo Shanshan will pay housing advance payment of CNY 19.04 million and Ningbo Xinmingda will pay housing advance payment of CNY 37.69 million, on signing of the agreement. Before February 28, 2012, Ningbo Shanshan will pay CNY 1.61 million and Ningbo Xinmingda will pay CNY 2.98 million, for the payment of relevant taxes. The balance amount of CNY 19.09 million will be paid later. The Board of Directors of Ningbo Shanshan Co., Ltd. approved the transaction.
Ningbo Shanshan Co., Ltd. (SHSE:600884) cancelled the acquisition of F5 to F8 of Shanshan International Business Building from Ningbo Shanshan Yongjiang Property Co., Ltd. on January 18, 2013.
Ningbo Shanshan Co Ltd is a China-based company mainly engaged in the research and development, production and sales of polarizers and lithium battery materials. The Company mainly conducts its businesses through nine segments. The Polarizer segment is mainly engaged in the research and development, production and sales of polarizers. The Cathode Material segment provides lithium cobalt oxide, lithium nickel cobalt manganate, lithium nickel cobalt aluminate and lithium manganate. The Anode Materials segment provides artificial graphite, natural graphite, and silicon-based anodes. The Electrolyte Materials segment provides electrolytes and lithium hexafluorophosphate. The Lithium Salt Materials segment provides lithium salts. The New Energy Vehicle segment provides charging services. The Energy Management segment is mainly engaged in material sales, photovoltaic power generation and other businesses. The Company also provides business through Investment segment and Other segment.
Ningbo Shanshan Co., Ltd. cancelled the acquisition of F5 to F8 of Shanshan International Business Building from Ningbo Shanshan Yongjiang Property Co., Ltd.
NINGBO SHANSHAN CO.,LTD. 
