Hangzhou Youngsun Intelligent Equipment Co., Ltd. completed the acquisition of 70% stake in Langfang Baiguan Packaging Machinery Co., Ltd. and Langfang Zhongjia Intelligent Technology Co., Ltd. from a group of shareholders.
March 17, 2022
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Hangzhou Youngsun Intelligent Equipment Co., Ltd. (SHSE:603901) signed an equity purchase agreement to acquire 70% stake in Langfang Baiguan Packaging Machinery Co., Ltd. and Langfang Zhongjia Intelligent Technology Co., Ltd. from a group of shareholders for approximately CNY 160 million on November 30, 2021. The consideration comprises of payment of CNY 40 million for the equity transfer to the account designated by Hangzhou Youngsun within 5 working days, CNY 60 million within 10 working days after the completion of the transaction, CNY 32.50 million within 10 working days after 6 months from the completion of the equity change registration of this transaction and remaining payment of CNY 32 million before January 31, 2023. As on September 30, 2021, Langfang Baiguan Packaging Machinery Co., Ltd. and Langfang Zhongjia Intelligent Technology Co., Ltd. generated combined total assets of CNY 436.9 million and net assets of CNY 91.5 million.
Hangzhou Youngsun Intelligent Equipment Co., Ltd. (SHSE:603901) completed the acquisition of 70% stake in Langfang Baiguan Packaging Machinery Co., Ltd. and Langfang Zhongjia Intelligent Technology Co., Ltd. from a group of shareholders on March 17, 2022.
Hangzhou Youngsun Intelligent Equipment Co., Ltd. is a company engaged in the research and development, manufacture of packing equipment and supporting packaging materials. It also involves in the provision of installation and debugging services and technical services. Its products include vacuum packaging machine, case erectors, labeling machine, shrink wrapper and other packaging equipment, as well as straps, stretch film and other packing materials.
Hangzhou Youngsun Intelligent Equipment Co., Ltd. completed the acquisition of 70% stake in Langfang Baiguan Packaging Machinery Co., Ltd. and Langfang Zhongjia Intelligent Technology Co., Ltd. from a group of shareholders.