Shanghai Kinlita Chemical Co., Ltd. agreed to acquire 49% stake in Shanghai King & Wood New Material Technology Co., Ltd from Luo Dian for CNY 49 million
June 09, 2022
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Shanghai Kinlita Chemical Co., Ltd. (SZSE:300225) agreed to acquire 49% stake in Shanghai King & Wood New Material Technology Co., Ltd from Luo Dian for CNY 49 million on June 9, 2022. The transaction will be funded through own funds by the acquirer. The transaction was approved by the acquirer board on June 9. The transaction is subject to approval by shareholders of Shanghai Kinlita Chemical Co. For the year ended Shanghai Kindoe New materials recorded total assets CNY 90.930 million.
Shanghai Kinlita Chemical Co., Ltd. is a China-based company principally engaged in the manufacture, processing and sales of coating products, solvents and additives, as well as the provision of related technical consulting and after-sales services. The Company's main products include cathodic electrophoretic coatings, topcoats, environmentally friendly and energy-saving materials and ceramic coatings. The Company's products are mainly used in automobiles, agricultural machinery, construction machinery, motorcycles, auto parts, light industrial parts and building curtain walls. The Company distributes its products in domestic market, with East China as its main market.
Shanghai Kinlita Chemical Co., Ltd. agreed to acquire 49% stake in Shanghai King & Wood New Material Technology Co., Ltd from Luo Dian for CNY 49 million
SHANGHAI KINLITA CHEMICAL CO., LTD. 
