Hunan Jinzuan Property Investment Co., Ltd acquired additional 15.30% stake in Yueyang Xinghao Property Co., Ltd from Daodaoquan Grain and Oil Co.,Ltd. for CNY 56.8 million.
May 30, 2019
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Hunan Jinzuan Property Investment Co., Ltd signed an agreement to acquire additional 15.30% stake in Yueyang Xinghao Property Co., Ltd from Daodaoquan Grain and Oil Co.,Ltd. (SZSE:002852) for CNY 56.8 million on May 23, 2019. Pre-acquisition, Hunan Jinzuan Property Investment holds 35.7% stake in Yueyang Xinghao Property. In related transaction, Yueyang Xinghao Business Management Co., Ltd. agreed to acquire 14.7% stake in Yueyang Xinghao Property Co., Ltd. from Daodaoquan Grain and Oil Co.,Ltd for CNY 54.6 million. Yueyang Xinghao Property reported total assets of CNY 205.8 million and net assets of CNY 71.4 million as of April 30, 2019. The transaction has been approved by the Board of Directors of Daodaoquan Grain and Oil at second directorates of eleventh meeting held on May 23, 2019 and does not need approval from the Daodaoquan Grain and Oil’s shareholders.
Hunan Jinzuan Property Investment Co., Ltd completed the acquisition of an additional 15.30% stake in Yueyang Xinghao Property Co., Ltd from Daodaoquan Grain and Oil Co.,Ltd. (SZSE:002852) on May 30, 2019.
Daodaoquan Grain and Oil Co Ltd is a China-based company principally engaged in the research and development, production and sales of edible vegetable oil products. The Company's main products include packaged rapeseed oil, soybean oil, corn oil, sunflower oil and its blending oil. Its products include pressed rapeseed oil, original coriander seed oil, mellow coriander seed oil, concentrated coriander seed oil, pure rapeseed oil, pressed corn oil, pressed sunflower seed oil, edible plant blending oil and other specifications. The Company distributes its products under the Daodaoquan brand. The Company mainly distributes its products with domestic market.
DAODAOQUAN GRAIN AND OIL CO.,LTD. 
