Wuhu Conch Profiles and Science Co.,Ltd agreed to acquire remaining 49% stake in Guangxi Conch Construction Engineering Building Materials Co., Ltd. from Guangxi Construction Engineering Group for CNY 14 million.
May 08, 2021
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Wuhu Conch Profiles and Science Co.,Ltd (SZSE:000619) agreed to acquire remaining 49% stake in Guangxi Conch Construction Engineering Building Materials Co., Ltd. from Guangxi Construction Engineering Group for CNY 14 million on May 7, 2021. Within five working days after the signing of this agreement, the industrial and commercial change registration procedures of the target equity shall be completed and Within six months after the completion of the industrial and commercial change registration of the target equity, the entire equity transfer price shall be paid in one lump sum. Post completion, Guangxi Conch will become wholly-owned subsidiary of Wuhu Conch. As of March 31, 2021, Guangxi Conch has reported total assets of CNY 28.15 million and net assets of CNY 28.1 million. The third meeting of the Ninth Board of Directors was held and approved the transaction on May 7, 2021.
Conch Anhui Energy Saving and Environment Protection New Material Co Ltd, formerly Wuhu Conch Profiles and Science Co Ltd, is a China-based company mainly engaged in the research and development, production and sales of plastic profiles and doors and windows. The Company mainly operates in two segments. The Profile Products segment is mainly engaged in the production and sales of plastic profiles, aluminum profiles and profile door and window products. The Denitrification Products segment is principally engaged in the production and sales of selective catalytic reduction (SCR) denitration catalyst products. The Company's products mainly include profiles, system doors and windows, passive windows, silent windows, fire-resistant windows, roller shutters, shutters, SCR honeycomb catalysts and flat-plate catalysts. The Company mainly conducts its businesses in domestic and overseas markets.
Wuhu Conch Profiles and Science Co.,Ltd agreed to acquire remaining 49% stake in Guangxi Conch Construction Engineering Building Materials Co., Ltd. from Guangxi Construction Engineering Group for CNY 14 million.